Capital First to merge with IDFC Bank

15 Jan 2018 Evaluate

Capital First has received an approval for its proposed merger with IDFC Bank. The board of directors at its meeting held on January 13, 2018 approved the same. 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.

Post-merger, the combined entity of IDFC Bank and Capital First will have an AUM of Rs 88,000 crore; PAT of Rs 1,268 crore (FY 17); and a distribution network comprising 194 branches (as per branch count of December 2017 of both entities), 353 dedicated BC outlets and over 9,100 micro ATM points, serving more than five million customers across the country.

Capital First is an MSME and consumer financing company which provides debt financing to these segments and also offers home loans, two wheeler loans and durable loans to entry and mid-level salaried employees of corporates.


Peers
Company Name CMP
Bajaj Finance 7240.35
Shriram Finance 2360.20
Aditya Birla Capital 175.70
SBI Cards AndPayment 682.45
Chola Invest & Fin. 1163.70
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