Business News
IDFC Bank To Acquire Warburg-Backed Lender Capital First
Shareholders in Capital First will receive 139 shares of IDFC Bank for every 10 shares held.
IDFC Bank, one of India’s two newest banks, said on Saturday its board has approved a takeover of non-bank financial firm Capital First Ltd in a share swap deal.
Shareholders in Capital First will receive 139 shares of the bank for every 10 shares held, the lender said in a stock exchange filing.
The deal is conditional on Reserve Bank Of India (RBI) and other regulatory approvals.
Capital First, owned more than a third by private equity firm Warburg Pincus, also counts Singapore state investor GIC among its major investors.
