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In January 2018, IDFC Bank and MSME financing company Capital First announced a merger. [14] Capital First was founded as Future Capital Holdings under the Future Group, and was acquired by Warburg Pincus and V. Vaidyanathan in 2012. [15] [16] As per a September 2017 stock filing, Capital First had a retail loan portfolio of ₹ 229.7 billion.
On 13 January 2018, IDFC Bank and Capital First announced a merger in a joint press release. IDFC Bank issued 139 shares for every 10 shares of Capital First, with Vaidyanathan taking over as the MD and CEO of the combined bank. The merger completed in December 2018. [21] [22]
[21] [22] Effectively Vaidyanathan successfully secured a banking license for Capital First through the merger and assumed control of the bank's management. [23] In September 2023, Vaidyanathan sold 5.07 crore shares of IDFC First Bank for ₹ 478.7 crore (US$56 million) to US-based GQG Partners through a block trade transaction.
In 2008–09, the company acquired 100% of the share capital of IDFC Capital (Singapore) Pvt Ltd. In the same year, the company established IDFC Foundation to focus on capacity building, policy advisory and sustainability initiatives. [9] IDFC Bank started operating banking services on 1 October 2015. [10]
Two Indian chemical companies have been indicted for allegedly importing ingredients for the highly addictive opioid fentanyl into the United States and Mexico, the U.S. Department of Justice said ...
In Other News. Entertainment. Entertainment. People. Mark Wahlberg celebrates daughter Grace's 15th birthday with sweet then and now snaps. Entertainment. Parade.
Pages in category "IDFC First Bank" The following 5 pages are in this category, out of 5 total. This list may not reflect recent changes. C. Capital First Ltd. I.
The Federal Trade Commission announced a final rule banning ticketing and short-term rental companies from including hidden junk fees in their total price on Tuesday.