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India’s Shiram Capital, IDFC explore merger prospects

( July 7, 2017, 10:08 GMT | Insight) -- Shiram Capital is in preliminary merger talks with IDFC, which could result in the creation of a financial services giant worth more than $4 billion, Live Mint reports. Shiram Capital is in preliminary merger talks with IDFC, which could result in the creation of a financial services giant worth more than $4 billion, Live Mint reports. Shiram Capital's listed businesses, Shiram Transport Finance and Shiram City Union Finance, could be merged with IDFC Bank. Its unlisted entities, including general and life insurance firms, could be folded into IDFC Ltd. Shiram Capital, controlled by billionaire Ajay Piramal, operates 24 companies with more than 900 billion rupees ($13.9 billion) in assets under management.  ...

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