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MarketScreener Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF INDIA  >  IDFC Bank Ltd    IDFCBANK   INE092T01019

IDFC BANK LTD (IDFCBANK)
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End-of-day quote. End-of-day quote  - 09/21
40.35 INR   -6.92%
2017IDFC BANK : Net1 launches one of the world's largest virtual card pr..
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IDFC Bank : Capital First announce merger, get board approval

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01/14/2018 | 03:28am CEST

Mumbai MONTHS after calling off the merger with Shriram Group, IDFC Bank found its match in Capital First to strengthen its base in banking business. On Saturday, IDFC said it will merge with Warburg Pinucsbacked Capital First in an allshare deal, while Capital First’s Chairman V Vaidyanathan will take over reins as the merged entity’s MD and CEO succeeding IDFC’s Rajiv Lall. The combined entity will have a diversified portfolio across corporate lending, SMEs and retail loans. “This announcement is pursuant to IDFC Bank’s stated strategy of ‘retailising’ its business to complete its transition from a dedicated infrastructure financier to a well-diversified universal bank, and in line with Capital First’s stated intention and strategy to convert to a universal bank,” IDFC said in a statement, adding that it will issue 139 shares for every 10 shares of Capital First. Rajiv Lall, currently the CEO of IDFC Bank, will move into the role of an executive chairman, replacing Veena Mankar, who will continue on the bank’s board. The board also appointed Bipin Gemani as interim chief financial officer of IDFC Bank. Gemani was previously the CFO of IDFC Ltd. The proposed merger, subject to regulatory and shareholder approvals, will together have assets under management of `880 billion, serving over 5 million customers across India. The combined entity will have a profit after tax of `12.7 billion as on FY17, a distribution network of 194 branches, 353 business Correspondent outlets.

(c) 2018 2017, Express Network Pvt Ltd. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

Stocks mentioned in the article
ChangeLast1st jan.
CAPITAL FIRST LTD -6.68% 546.7 End-of-day quote.-21.17%
IDFC BANK LTD -6.92% 40.35 End-of-day quote.-25.55%
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Financials (INR)
Sales 2019 34 719 M
EBIT 2019 2 905 M
Net income 2019 2 398 M
Debt 2019 -
Yield 2019 1,22%
P/E ratio 2019 30,42
P/E ratio 2020 15,14
Capi. / Sales 2019 4,25x
Capi. / Sales 2020 3,52x
Capitalization 147 B
Chart IDFC BANK LTD
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Technical analysis trends IDFC BANK LTD
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TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 9
Average target price 56,0  INR
Spread / Average Target 29%
EPS Revisions
Managers
NameTitle
Rajiv Behari Lall Chief Executive Officer, MD & Executive Director
Veena Vikas Mankar Independent Non-Executive Chairman
Avtar Monga Executive Director
Abhijit Sen Independent Director
Ajay Sondhi Independent Director
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