V Vaidyanathan, founder and Executive Chairman of Capital First will become the MD and CEO of the merged entity. A joint statement said that the decision was in line with the bank's strategy of "retailising" its business and with Capital First's stated intention to convert to a universal bank. Under the deal, IDFC bank, one of the two newest banks of India, has agreed to give 139 shares for every 10 shares of Capital First, a debt financing firm for small entrepreneurs. The deal is conditional on central bank and other regulatory approvals. Capital First, owned more than a third by private equity firm Warburg Pincus, has Singapore state investor GIC among its list of major investors. The deal between the two entities is estimated to be worth $1.5 billion (over Rs 9,541.57 crore). When IDFC Bank commenced operations in 2015, Dr. Lall had stepped down from IDFC Ltd., where he was executive chairman, to head the bank.
The merger is expected to help the bank cash in on Capital First's 3 million retail and small & micro-enterprise customers base.
"The number of products that we can offer to our customers would be much larger, the product suite can be more and the balance sheet of the IDFC Bank is more diversified because of the retail presence".
Eagles Armchair: The Rebirth of Nick Foles The Eagles advance to host the NFC Championship game next week against either the Minnesota Vikings or the New Orleans Saints . The Eagles defeated the Atlanta Falcons , 15-10, in an National Football League divisional playoff game at home on Saturday.
Sainz takes back-to-back stage wins to lead Dakar The rally has already reached Uyuni from La Paz in this stage and will head towards Tupiza, deeper into Bolivia. He was stuck for a highly costly one hour and 45 minutes, dropping the Peugeot driver down the rankings.
"The Board of Directors of IDFC Bank Ltd. have considered and approved a composite scheme of amalgamation of Capital First Ltd, Capital First Home Finance Ltd and Capital First Securities Ltd". "It will bring two tech-savvy, culturally aligned platforms to come together to create a diversified and fast growing universal bank with a national footprint, in a manner that will be value accretive for all shareholders". The combined entity will have a profit after tax of Rs 12.7 billion as on FY17, a distribution network of 194 branches, 353 business Correspondent outlets. "We are excited about this merger because IDFC Bank provides a flawless platform for continued growth of the combined franchise, supported by low-priced funding".
As of Friday's closing, shares of Capital First rose 0.05 percent to Rs 835.90 and those of IDFC Bank fell 1.3 percent to Rs 67.65. "We are excited about the opportunity to be part of something special here, and look forward to supporting Vaidya and the teams at Capital First and IDFC Bank as they grow the platform into a leading banking institution in the country".
The mudslide swept through the coastal community of Montecito on Tuesday morning, catching numerous victims entirely off-guard. In addition to the dead and injured, 65 houses have been destroyed while another 462 sustained damage.
Notable free agents Spielman signed were quarterback Case Keenum , running back Latavius Murray and left tackle Riley Reiff. It will be the first time the two teams have met in the postseason since their NFC Championship game in the 2009 season.
Benchmark bonds reversed earlier gains on the news, with the yield on 10-year Treasuries climbing for a fifth day. Weeks later, China's top foreign-exchange official said the nation would keep buying Treasuries.
The firm earned "Hold" rating on Tuesday, November 14 by RBC Capital Markets. (NYSE:JPM) on Thursday, July 20 with "Hold" rating. After $0.70 actual EPS reported by FMC Corporation for the previous quarter, Wall Street now forecasts 44.29% EPS growth.
Snow showers will be mostly light but will bring wet road conditions and possible slick spots for the Monday morning commute. A daily assessment of the potential for at least 1 inch of snow in the next week, on a 0-10 scale.
Keenum completed 67% of his passes this season, throwing for over 3,500 yards with 22 touchdowns and seven interceptions. Bradford started two games, including the 2017 season opener, a 29-19 win over the Saints.
The SNP, Liberal Democrats, Plaid Cymru and the Greens will collectively back an amendment to the EU Withdrawal Bill this week. Deputy Tory party chairman James Cleverly said the comments showed that Labour was trying to frustrate Brexit.
They would now hope to do a deal for a fee of around £20million but are understood to have been quoted £35million. Jose Mourinho described Sanchez as phenomenal on Friday and was coy on the emergence of a bid from Old Trafford .
Devi was known not just for her writing but also for dedicating her life for the welfare of tribals across India. Devi, who won the the Sahitya Akademi award in 1979, wrote 100 novels and 20 collection of short stories.
Trump Comments Highlight Racial Impact Of Migration Platform
Nonetheless, Mr Trump vigorously defended his stance on immigration, insisting that he wanted a merit-based system of immigration. Using them, he said, implies that Latin American people are "worth nothing". " It was a heartbreaking moment ", Durbin said.
Russian helicopter crashes in Syria, 2 pilots die
The center won an worldwide competition last summer against the canine forces of Belarus, Egypt, Iran and Uzbekistan. Like other militaries around the world, dogs in Russian Federation are used as guards and for detecting explosives.
United want Sanchez AND Ozil
You've got players; Wilshere, Ozil and Sanchez, three of the best players at your club and they're out of contract in the summer".
Sysco Corp (NYSE:SYY) Sentiment Crashes in Q3 2017
Following the transaction, the executive vice president now directly owns 58,776 shares in the company, valued at $3,224,451.36. Hsbc Holding Public Limited Co reported 385,189 shares. 103,550 are owned by Hap Trading Limited Liability Company.
Coach Wenger plans for life after Sanchez
French side Paris St-Germain have also been linked with the Chile forward but Sanchez's preference is to join Manchester City . Asked about Sanchez, he said: "I understand completely why you ask this question; it's your job".
Turkey expresses concerns over violent protests in Iran
On Monday, Rouhani held talks with Iran's members of parliaments, acknowledging protesters' anger over the country's economy. On Tuesday, he tweeted that the people of Iran "are finally acting against the brutal and corrupt Iranian regime".