Question - why should stock price decide the merger ratio ? if you hold IDFC which is more like a shell structure now, and has no asset other than the bank shares, the merger ratio should be in proportion to the shares of IDFC first bank held by IDFC + any residual cash
just thinking aloud. stock price would only matter if IDFC had some assets. for IDFC first bank, they are just changing the shareholder from IDFC to individuals who hold IDFC and maybe issue a few additional shares for the residual cash/asset
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