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IDFC First Bank (stylised as IDFC FIRST Bank) is an Indian private sector bank formed by the merger of the banking arm of Infrastructure Development Finance Company and Capital First, an Indian non-bank financial institution.
1 day ago · New Delhi 94.72 /L 0.00. IDFC First Bank completed its merger with IDFC Limited, effective October 1, 2024, following necessary approvals. Shareholders will receive 155 bank shares for every 100 ...
2 days ago · IDFC First Bank has announced the successful completion of its merger with IDFC Limited. The announcement, made on Friday, signifies the culmination of an extensive process that involved gaining ...
2 days ago · IDFC First Bank will issue nearly 2,47,99,75,876 new equity shares to the shareholders of IDFC Limited as per the agreed swap ratio. “Due to losses posted by the bank in its early years largely due to legacy infrastructure and corporate loan accounts and due to write-off of goodwill due to prior transactions, the Bank had accumulated losses,” IDFC First Bank said in an exchange filing.
2 days ago · Appointed Date 1: September 30, 2024, for the merger of IDFC FHCL into IDFC Limited. Appointed Date 2: October 01, 2024, for the merger of IDFC Limited into IDFC FIRST Bank. The record date for ...
History. IDFC FIRST Bank was founded by the merger of Erstwhile IDFC Bank and Erstwhile Capital First on December 18, 2018. Erstwhile IDFC BANK LTD. IDFC Limited was set up in 1997 to finance infrastructure, focusing primarily on project finance and mobilization of capital for private sector infrastructure development.
2 days ago · As part of the merger, it said, about Rs 600 crore of cash and cash equivalents will flow to the bank. Speaking about the merger, V Vaidyanathan, MD & CEO, IDFC FIRST Bank Limited, said: "The announcement of merger today between IDFC First bank and IDFC Ltd brings closure to the intense work over the last 2 years.
