IDFC First Bank’s board has favoured the merger IDFC and IDFC Financial Holding (Promoter Group) with ‘IDFC FIRST Bank’. The board has expressed that it is in-principle, in favour of the above merger, subject to the approval of the Board of Directors, shareholders, creditors, statutory and regulatory approvals of the respective entities.
The Board has constituted and authorized a committee namely ‘Capital Raise and Corporate Restructuring Committee’, to work on the terms of proposed merger including finalizing the Scheme, Valuation, hiring advisors etc. as required.
IDFC First Bank provides a range of financial solutions to individuals, small businesses and corporates.
