IDBI Home Finance ready to merge with parent firm

IDBI Home Finance got a go signal top merge with its parent IDBI Bank from the Corporate Affairs ministry.

The merger would help IDBI to consolidate its home loan business and gain more market share.

"The company, on April 13, 2011, has filed a copy of the said order with the Registrar of Companies, NCT of Delhi and

Haryana and hence all the conditions... of the Scheme of Amalgamation have now been complied with," stated India's Ministry of Corporate Affairs.