IDFC Ltd, which is in the process of selling its broking business, IDFC Securities, received bids on Wednesday from at least four suitors, including Axis Capital chief executive Dharmesh Mehta, said three people aware of the development. “IDFC had invited bids from interested suitors for the sale of the securities business and today was the last day to submit bids. Five parties have bid for the asset, including a business house. IDFC investment banking, which is part of IDFC Bank, is also likely to be part of the sale,” said one of the persons cited above, requesting anonymity.
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