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In January 2018, IDFC Bank and MSME financing company Capital First announced a merger. [15] Capital First was founded as Future Capital Holdings under the Future Group, and was acquired by Warburg Pincus and V. Vaidyanathan in 2012. [16] [17] 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$55 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]
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On February 19, Capital One announced it would acquire Discover in an all-stock transaction worth $35.3 billion. Both companies are among the largest credit card issuers in the country while ...
If you're not making enough money, you don't need to find a higher-paying job. Instead, Tony Robbins says to "work smarter, not harder." One way to do so is by earning passive income. Learn More ...
Before joining Warburg Pincus in 1997, Rajiv Lall was the Head of Asian Economic Research with Morgan Stanley Asia. [3]In 2005, Lall joined IDFC as MD and CEO. he serves as a director of IDFC Trustee Company Pvt. Ltd., IDFC Capital Company Limited, IDFC Projects Limited, IDFC-SSKI Securities Limited, IDFC-SSKI Limited, IDFC Bank, STCI Finance Limited, National Stock Exchange of India Limited ...