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National Stock Exchange of India (NSE), has approved the scheme of amalgamation of IDFC Bank and Capital First.
According to a release, IDFC Bank has received prior approval of NSE, to the proposed amalgamation of Capital First, Capital First Home Finance and Capital First Securities with IDFC Bank.
NSE has given its prior approval for the amalgamation with respect to the amalgamated company’s trading membership in the currency derivative segment of NSE.
Furthermore, the merger is still subject to approvals from the Reserve Bank of India, Stock Exchanges, Securities and Exchange Board of India (SEBI), the National Company Law Tribunal (NCLT) and respective shareholders and creditors of all the companies involved.
