IDFC Bank has received Reserve Bank of India’s approval for merger of Capital First, Capital First Home Finance and Capital First Securities with Bank. The share ratio for the merger is fixed at 139:10, i.e. the Bank will issue 139 shares for every 10 shares of Capital First.
Earlier, Capital First has got approval from its board of directors for amalgamation of the three entities with IDFC Bank.
IDFC Bank is a universal bank, offering financial solutions through its nationwide branches, internet and mobile.
