Too much is speculated about the merger. The take is that the merger is a given as the shares already exist and no dilution will happen. So all this talk of book value, ROE etc. is futile. The only matter of importance is that does he want to raise more equity from the Rs 4000 crore odd cash balance on books of IDFC. VV will be making an honest mistake if he does not… But in any case there is just going to be a slight difference in taxation. From a capital gains in our hand ( on shares received after merger ) or dividend taxation. So rest your horses…It is not a material difference !!
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