IDFC Ltd has informed BSE that the Honble High Court of Judicature at Madras, vide its Order dated June 25, 2015, had sanctioned the Scheme of Arrangement among IDFC Limited and IDFC Bank Limited and their respective shareholders and creditors under Section 391 to 394 of the Companies Act, 1956 ('Demerger Scheme').
Pursuant to the Demerger Scheme, the Allotment & Share Transfer Committee of IDFC Bank Limited at its meeting held on October 09, 2015 allotted 1,594,020,668 Equity Shares of Rs. 10 each to 4,92,106 equity shareholders of IDFC Limited whose names were recorded in the Register of Members of IDFC Limited as on the Record Date, i.e. October 05, 2015.
The ratio for the aforesaid allotment is one (1) equity share having a face value of Rs. 10 each of IDFC Bank Limited for every one (1) equity share held by shareholders in IDFC Limited.
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