{"id":80958,"date":"2018-06-05T12:30:18","date_gmt":"2018-06-05T12:30:18","guid":{"rendered":"http:\/\/www.bnreport.com\/bharat-financial-gets-bourses-nod-for-merger-with-indusind\/"},"modified":"2018-06-05T12:30:18","modified_gmt":"2018-06-05T12:30:18","slug":"bharat-financial-gets-bourses-nod-for-merger-with-indusind","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/bharat-financial-gets-bourses-nod-for-merger-with-indusind\/","title":{"rendered":"Bharat Financial gets bourses&#8217; nod for merger with IndusInd"},"content":{"rendered":"<p>Micro-lender Bharat Financial Inclusion Ltd (BFIL) today said it has received no-objection nod from stock exchanges for its <a href=\"https:\/\/economictimes.indiatimes.com\/topic\/merger\" rel=\"noreferrer\" target=\"_blank\">merger<\/a> with private sector lender <a href=\"https:\/\/economictimes.indiatimes.com\/indusind-bank-ltd\/stocks\/companyid-9196.cms\" rel=\"noreferrer\" target=\"_blank\">IndusInd<\/a> Bank. <\/p>\n<p>BFIL (earlier <a href=\"https:\/\/economictimes.indiatimes.com\/bharat-financial-inclusion-ltd\/stocks\/companyid-30587.cms\" rel=\"noreferrer\" target=\"_blank\">SKS Microfinance<\/a>) said it received no-objection from the <a href=\"https:\/\/economictimes.indiatimes.com\/topic\/NSE\" rel=\"noreferrer\" target=\"_blank\">NSE<\/a> on June 1 and from <a href=\"https:\/\/economictimes.indiatimes.com\/topic\/BSE\" rel=\"noreferrer\" target=\"_blank\">BSE<\/a> on June 4 for its proposed merger with IndusInd Bank following the feedback from <a href=\"https:\/\/economictimes.indiatimes.com\/definition\/markets\" rel=\"noreferrer\" target=\"_blank\">markets<\/a> regulator Sebi. <\/p>\n<p>The no-objection is based on draft scheme and other documents submitted by the company, it added. <\/p>\n<p>&quot;This is one of the important approvals which would enable the company to file the draft scheme of amalgamation, as approved by the boards of directors of both the entities on October 14, 2017, with the National Company Law Tribunal (NCLT), Mumbai,&quot; BFIL said in a regulatory filing. <\/p>\n<p>IndusInd Bank had decided to acquire the BFIL through an all-stock transaction of BFIL into IndusInd through a composite scheme of arrangement. <\/p>\n<p>Catering mainly to the economically weaker sections of the society, BFIL has presence across 16 states covering one lakh villages. <\/p>\n<p>The BFIL stock was trading 1.11 per cent higher at Rs 1,156.65 on BSE in the afternoon. <\/p>\n<p><strong><a href=\"https:\/\/blockads.fivefilters.org\/\" rel=\"noreferrer\" target=\"_blank\"><\/a><\/strong> <a href=\"https:\/\/blockads.fivefilters.org\/acceptable.html\" rel=\"noreferrer\" target=\"_blank\"><\/a><\/p>\n<p><a href=\"https:\/\/economictimes.indiatimes.com\/markets\/stocks\/news\/bharat-financial-gets-bourses-nod-for-merger-with-indusind\/articleshow\/64462332.cms\" rel=\"noreferrer\" target=\"_blank\">Original Article<\/a><\/p>\n<p>[contf]<br \/>\n[contfnew]<br \/>\n        <img decoding=\"async\" src=\"https:\/\/img.etimg.com\/photo\/60278104.cms\"\/><\/p>\n<h5><a href=\"https:\/\/economictimes.indiatimes.com\/\" rel=\"noreferrer\" target=\"_blank\">ET Markets<\/a><\/h5>\n<p>[contfnewc]<br \/>\n[contfnewc]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Micro-lender Bharat Financial Inclusion Ltd (BFIL) today sai..<\/p>\n","protected":false},"author":1,"featured_media":80959,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-80958","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bharat Financial gets bourses&#039; 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