Summation method is inclusive of IDFC stake in IDFC First bank & the cash value per share retained from AMC Sale by the time of merger. Please refer summation formula in the sheet for better understanding.
For IDFC Ltd, Cash/share & #Shares outstanding will change across scenarios. That’s factored in so, you have summation value varing from Rs.71 to Rs.98.4
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if this happens, number of prospective buyers will increase
Excellent calculation.
What would be tax amount on sale for 3k crores of AMC?
Hi. We have not received any update from the management on any of the development related to IDFC project JV with Delhi Govt or Karnataka - Mr Rai was ver confident about sharing update on Delhi JV by end of September.
Secondly, no further announcement related to Mr Rai’s replacement. Thirdly, finalising bankers / consultants for IDFC MF sales.
Last time I tried to management, I could not found PoC / a person’s email I’d whom I can write an email. Any leads / email I’d would be helpful
You can find Mr Kakar’s mail ID here, do let us know what he says- https://www.idfc.com/pdf/LettertoSEforKMP-140218.pdf
Exchange Received Time 21/10/2021 19:13:19 Exchange Disseminated Time 10/21/2021 7:13:28 PM Time Taken 00:00:09
Dear Sir/ Madam,
In continuation of our letter dated September 17, 2021 regarding divestment of IDFC Asset Management Company Limited, Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors (‘the Board’) of IDFC Limited (‘the Company’) and IDFC Financial Holding Company Limited (‘IDFC FHCL’) at their respective meetings held today i.e. October 21, 2021 have inter alia considered and have appointed Citigroup Global Markets India Private Limited as Investment Banker for the Divestment of the IDFC Asset Management Company Limited.
The above information is also available on the website of the Company: www.idfc.com
The Board Meeting commenced at 5:30 p.m. and concluded at 6:45 p.m.
Kindly take the aforesaid on recor
Good, now the divestment should move pretty fast as Citi will want to have their fees before the announcement of the year end bonuses 
Seems like one step closer to the reverse merger, things seem to finally be picking up pace. Great news!
You can see the subsidiary annual reports on the website.
Some concrete steps at last…
Present Mcap of IDFC first bank: 32,860 cr
IDFC 36.6% share in IDFCFB = 12,000 cr approx
IDFC AMC value assumption : 3000 cr (After tax)
Total IDFC Ltd value = 15,000 cr
IDFC Market Cap = 9000 cr
Max Upside: 66.6%
This is my crude calculation. Correct me if I’m wrong.
Invested and biased.
Article mentions that Bajaj Finserv is one of the parties looking at merging with IDFC idfc: Reverse-merger or merger: IDFC has limited options to ‘maximise’ shareholder wealth - The Economic Times
Can you please share the contents of the article for Non prime members or the crux of the same.
If idfc is acquired by Bajaj fin serv I don’t think it creates any value to share holders.
Currently Bajaj fin serv trading around the 17.5k
When capital first is merged with idfc bank. The capital first shares holders and idfc bank holders both didn’t gain weight much in terms of share price.
The price of Bajaj fin serv correct and finally the idfc share holders will be left with same pain
Please correct me if I am wrong
If Bajaj or a piramal or someone wants to buy IDFC they will need to offer atleast 80-100 bucks a share to IDFC shareholders to get the deal over the line. The current NAV of IDFC itself is above 100.
In 2018 when Shriram was wanting to merge with IDFC, shareholders had stuck to a demand of 100-110 bucks a share.
If they offer 100-110rs it is not the direct cash. The value would be credited as a Bajaj fin serv shares only which is not at all good for us.
As I understand, there is another simpler way. 159 Cr IDFC Shares own 226 Cr IDFC First Bank shares i.e. 1 share of IDFC is equivalent to 1.42 shares of IDFC First.
These shares can be distributed to all the IDFC shareholders in the ratio of 1:1.42.
They can do it in parallel, independent of the AMC sale & other subsidiary disposal. If they do this in parallel, distribute the shares, and sell AMC/other subsidiaries, they can just wind up the IDFC later, and distribute the capital & surplus.
They are just delaying the process.
RBI doesn’t allow mergers unless promoters have no other businesses. Equitas holding is selling equitas technologies as they are involved in the truck hire business.
