The IDFC Group and Shriram Group have decided to call off their merger proposal as they were not able to reach a mutually acceptable swap ratio, it was announced on Monday.
In a regulatory filing in BSE, IDFC Ltd said: "This is to inform you that despite best efforts, IDFC Group and Shriram Group have not been able to reach common ground on a mutually acceptable swap ratio for the merger.
"Accordingly, both parties have agreed to call off discussions on a potential merger and the exclusivity period pursuant to the CES Agreement entered into between the concerned parties stands terminated with immediate effect."
--IANS
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