The Reserve Bank of India has issued a no objection certificate to the IDFC Bank and Capital First Merger. Stocks for both the companies rallied in the stock market today riding on the news.
The merger will result in a combined valuation of Rs 33,000 crore in market capitalisation. Shareholders of both the banks to benefit in the long run
Swap ratio is set at 139 shares of IDFC for every 10 shares of Capital First
Cloverdell Investment Ltd, an affiliate of Warburg Pincus has sold 25% stake in the company to marquee Foreign and domestic investors. Cloverdell Investment Ltd continues to be the Promoter of the company with 36% stake in Capital First Limited.
Leaders are elected to take decisions that are in the best interest of the nation considering its long term implications, and not to throw decisions back to people