Swap ratio can not be decided on the basis of ethics or emotions…
Also we don’t know how many shareholders jumped from IDFC First to IDFC Limited and vice-versa during all these years in hope of a better deal or safer investment…
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The fact is IDFC has a certain number of shares of the bank as promoter and there should be some logical rational explaination for the number of shares both entities agree to extinguish out of those during the process of merger…
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