On 3rd July 2023 IDFC announced merger with IDFC First Bank on a 1:1.55 Ratio. So post merger for every 100 shares of IDFC, share holders get 155 shares of IDFC First Bank. This opened up an arbitrage opportunity and this chart shall show the arbitrage value.
The Thick blue line is the IDFC First Bank's value of IDFC share price.
The Thick blue line is the IDFC First Bank's value of IDFC share price.