IDFC Bank, Capital First to merge in Share Swap Deal

IDFC Bank and Capital First has approved a merger of Capital First with IDFC Bank. Pursuant to the merger which is subject to regulatory and shareholder approvals, IDFC Bank will issue 139 shares for every 10 shares of Capital First. 

The deal values Capital First – owned more than a third by private equity firm Warburg Pincus – at Rs. 938.25 a share based on the two companies’ price and giving the company a market value of Rs. 9,278 crore ($1.46 billion), Reuters calculations showed.
Static/Current Takeaways Important for Syndicate Bank PO Exam 2018-
  • Chairman and MD of Capital First- V Vaidyanathan
  • Headquarters of IDFC Bank- Mumbai
  • Founder, MD & CEO of IDFC Bank- Rajiv Lall 
Source- The Hindu