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SHCIL IDBI Bank Merger |
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Re: shcil idbi bank merger
The board of IDBI Bank has given approval to the merger of Stock Holding Corporation of India with the bank. The IDBI Bank shares will be issued to SHCIL shareholders in an all-stock deals. They will also work out the scheme of amalgamation in the next few days. The Stock Holding Corporation of India Ltd (SHCIL) is India’s largest custodian of securities. SHCIL is promoted by IDBI and six other public financial & investment institutions in India. The IDBI Bank’s merger with SHCIL will build capabilities within the bank for HNI custody and asset servicing. SHCIL currently provides e-stamping business in 10 states. The entire merger process was completed by March 31, 2013. To know more, contact at: Stock Holding Corporation of India Unit No.301, 3rd Floor, Dr. B. Ambedkar Road, MUMBAI-400012 Phone: 022 – 61778500 |
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