IDFC Bank Capital First to merge in Share Swap Deal
Posted on:15 Jan 2018 09:23:31
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15 January 2018 Current Affairs: IDFC Bank and Capital First 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.
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