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IndusInd Bank, Bharat Financial deny merger talks

IndusInd Bank Ltd. and Bharat Financial Inclusion Ltd. denied that they are in talks for a potential merger.

The two Indian companies Feb. 2 clarified a same-day news item that appeared in The Economic Times stating that IndusInd Bank is likely to merge with Bharat Financial through a share swap agreement.

Bharat Financial said that the news item is merely market speculation, while IndusInd Bank said they do not comment on speculative news and is not aware of any information about the rumored merger.

Both companies added that they are exploring various strategic options in accordance with relevant regulations.