Corporate Announcement
Security Code : 539437    Company : IDFCFIRSTB    
 
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  Exchange Received Time  05/10/2017 16:00:46         Exchange Disseminated Time   10/5/2017 4:00:54 PM              Time Taken   00:00:08
The Board of Directors of IDFC Bank Limited at its meeting held on July 8, 2017 had inter alia approved entering into Confidentiality, Exclusivity and Standstill Agreement ('CES Agreement') with the Shriram Group to evaluate a potential combination of certain businesses and subsidiaries / affiliates / associate companies of the Shriram Group engaged in the credit and non-credit financial services sector with the IDFC Group ('Proposed Transaction'). The CES Agreement primarily provided for a mutually agreed 90 days exclusivity period from July 8, 2017 for due diligence and discussions between the relevant parties in relation to the Proposed Transaction.

This is to inform you that given the extensive due diligence process involved and the on-going discussions, the parties have agreed for extension of the CES Agreement up to November 8, 2017.
 

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