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Capital First, IDFC Bank Merger Finalized, V Vaidyanathan to be CMD
January 17, 2018
Private sector IDFC Bank, and Capital First, which is one of the leading Non-Banking Financial Companies (NBFC) said that both companies have decided to join hands and merge their businesses into one single entity that will have a combined customer base of 50 lakh and assets worth Rs. 88,000 crores.
The merger will be effective from April 2018, under which IDFC Bank will issue 139 shares for every 10 shares of Capital First. In addition to that, current MD and chairman of Capital First, V Vaidyanathan, will take the position of MD and CEO of the new entity.
