The resolution for appointment of Rai till 22 May 2023 was rejected as 62.3% shareholders voted against it. While 37.7% shareholders voted in favour, according to the information shared with the stock exchanges on 22 September 2021 post the 24th annual general meeting of the firm.

Vinod Rai is currently the non-executive chairman of IDFC and his term ended on 30 July 2021.

The company had put up six resolutions for voting at the annual general meeting. Except Vinod Rai's appointment, the other five resolutions were passed with majority.

Other resolutions included approving the financial statements of the company and the appointment of two other independent directors, Jaimini Bhagwati and Anil Singhvi.

The 24th Annual General Meeting (AGM) of the Members of IDFC was held on Wednesday, 22 September 2021 at through video conferencing ('VC')/other audio‐visual means.

Vinod Rai (chairman of the board, chairman of the stakeholder relationship committee and strategy and investment committee) chaired the meeting.

Last week, the board of IDFC and IDFC Financial Holding on 17 September 2021 approved to initiate steps to divest its mutual fund business. The respective boards have authorised respective strategy & investment committees to take necessary steps, including appointment of investment banker, for the same, the company said in a statement.

IDFC AMC is sponsored by IDFC. The AMC manages a range of funds across debt and equity asset classes and has a distribution reach that covers 39 cities directly and has an indirect presence in over 283 towns across India.

On a consolidated basis, IDFC reported net loss of Rs 410.08 crore in Q1 June 2021 higher than net loss of Rs 24.46 crore in Q1 June 2020. Total income rose 7.15% to 111.56 crore in Q1 June 2021 over Q1 June 2020.

IDFC is a financial services company in India and it advances infrastructure development in the country.

Shares of IDFC was down 0.18% at Rs 55.55. The stock hit a high of Rs 56.40 and a low of Rs 55.35 so far.

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Shares of IDFC were up 0.71% at Rs 56.75. The stock fell 2.51% to settle at Rs 56.35 on Friday, 17 September 2021.

The boards have authorised respective strategy & investment committees to take necessary steps, including appointment of investment banker, for the same, the company said in a statement.

IDFC asset management company (AMC)'s assets under management were Rs 126264.05 crore as of June 2021.

IDFC AMC is sponsored by IDFC. The AMC manages a range of funds across debt and equity asset classes and has a distribution reach that covers 39 cities directly and has an indirect presence in over 283 towns across India.

On a consolidated basis, IDFC reported net loss of Rs 410.08 crore in Q1 June 2021 higher than net loss of Rs 24.46 crore in Q1 June 2020. Total income rose 7.15% to 111.56 crore in Q1 June 2021 over Q1 June 2020.

IDFC is a financial services company in India and it advances infrastructure development in the country.

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The Board of IDFC and IDFC Financial Holding Company at its meeting held on 17 September 2021 has approved to initiate steps to divests its mutual fund business subject to requisite regulatory approvals, as applicable.

The Boards have authorised respective Strategy & Investment Committees to take necessary steps, including appointment of Investment Banker, for the same.

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The boards have authorized respective strategy & investment committees to take necessary steps, including appointment of investment banker, for the same,” the company said in a statement.

The announcement was made during market hours today, 17 September 2021.

IDFC is a finance company. It provides finance and advisory services for infrastructure projects as well as asset management and investment banking.

The company reported a consolidated net loss of Rs 410.25 crore in Q1 FY22 as against a net loss of Rs 26.26 crore in Q1 FY21. Total income during the quarter rose 7.1% YoY to Rs 111.56 crore.

The scrip fell 1.30% to currently trade at Rs 57.05 on the BSE.

On the BSE, over 18.09 lakh shares of the company were traded in the counter so far as against an average trading volume of 9.25 lakh shares in the past two weeks.

On the NSE, over 1.81 crore shares of the company changed hands in the counter so far as against an average trading volume of 92.06 lakh shares in the past three months.

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