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Capital First, IDFC Merger Get RBI’s Approval
June 07, 2018
SME loans provider Capital First and private sector IDFC bank have received a no objection certificate (OBC) from the central bank RBI regarding their merger. However, they still need an approval from the National Company Law Tribunal (NCLT) before the actual merger can take place.
Capital First is backed by Warburg Pincus but is now acquired by IDFC bank for reportedly 1.5 billion USD. As part of the merger deal, Capital First Securities and Capital First Home Finance will also be merged with the bank.
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