Under scheme of arrangement
IDFC announced that the Hon'ble High Court of Judicature at Madras, vide its Order dated 25 June 2015, had sanctioned the Scheme of Arrangement among IDFC and IDFC Bank 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 at its meeting held on 09 October 2015 allotted 1,594,020,668 Equity Shares of Rs. 10 each to 4,92,106 equity shareholders of IDFC whose names were recorded in the Register of Members of IDFC as on the Record Date, i.e. 05 October 2015.
The ratio for the aforesaid allotment is one (1) equity share having a face value of Rs. 10 each of IDFC Bank for every one (1) equity share held by shareholders in IDFC.
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