IndusInd Bank Ltd said on Monday it would enter into exclusive talks with Bharat Financial Inclusion Ltd to pursue a potential merger between the two financial firms.
"The Exclusivity Agreement provides for a mutually agreed exclusivity period for due diligence and discussions to evaluate a potential strategic combination between the company and BFIL (Bharat Financial)," IndusInd Bank said in a filing to exchanges.
IndisInd did not provide further details regarding the talks, including whether there was a deadline.