Q. The regulator National Housing Bank (NHB) has approved the merger of which company with IDFC Bank?
A. 5Paisa Capital Ltd
B. Abhinav Capital Services Ltd
C. Capital First Ltd
D. A F Enterprises Ltd
Answer: C. Capital First Ltd
Capital First on 20th February 2018 said the regulator National Housing Bank (NHB) has approved the merger of the company along with Capital Home Finance and Capital First Securities Limited with IDFC Bank.
The amalgamation is subject to the receipt of approval from the Reserve Bank of India and other statutory and regulatory approvals.
After this merger, the combined company will have the capital value of Rs. 880 billion.
The share swap ratio for the merger is fixed at 139:10, meaning IDFC Bank will issue 139 shares for every 10 shares of Capital First.