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Last Updated : Mar 07, 2017 05:42 PM IST | Source: CNBC-TV18

After IndusInd Bank, RBL enters race for merger with Bharat Fin

IndusInd Bank is not the only one interested in striking a deal with Bharat Financial. The newly-listed RBL Bank is also said to be interested in exploring a merger with Bharat Financial, sources with direct knowledge of the development said.

IndusInd Bank is not the only one interested in striking a deal with Bharat Financial. The newly-listed RBL Bank is also said to be interested in exploring a merger with Bharat Financial, sources with direct knowledge of the development said.

IndusInd has been negotiating deal valuations with Bharat Financial, reported CNBC-TV18 quoting sources. RBL’s interest will increase competition for IndusInd Bank, they said.

A deal with Bharat Financial, at its current market price, will see 13.1 percent dilution for IndusInd Bank while for RBL the dilution will be 52.3 percent.

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Bharat Financial’s current market capital stands at Rs 9,144 crore.

On enquiry, Bharat Financial told CNBC-TV18 that it doesn’t comment on market speculation. “The company explores various options from time to time and will make an announcement in accordance with the relevant regulations as and when a transaction, if any, is approved by the Board,” it said.

RBL Bank refused to comment on speculative news.

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First Published on Feb 27, 2017 03:11 pm
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