IDFC, Shriram Group's shares dip up to 7% on proposed merger
Shares of IDFC and Shriram Group's companies fell by up to 7.4% amid merger talks to create the largest retail-focused bank in the country. IDFC's stock went down by 4.67% while shares of Shriram Transport Finance and Shriram City Union Finance fell 7.39% and 5.52%, respectively. IDFC and the Piramal-backed Shriram Group have entered into 90-day merger talks. 