Capital First announced that the regulator National Housing Bank (NHB) has approved the merger of the company along with Capital Home Finance and Capital First Securities Limited with IDFC Bank.
The amalgamation is subject to the receipt of approval from the Reserve Bank of India and other statutory and regulatory approvals. The share swap ratio for the merger is fixed at 139:10, meaning IDFC Bank will issue 139 shares for every 10 shares of Capital First. The merger is likely to be completed in the next two-three quarters.
Static/Current Takeaways Important for Syndicate Bank PO 2018 Exam-
- IDFC Bank Founder MD & CEO- Dr. Rajiv Lall, Headoffice- Mumbai.