Will follow path and structure of ICICI, HDFC Bank: IDFC First Bank CEO

'Basically, IDFC FIRST Bank will become a widely held, diversified financial institution with a diversified set of shareholders'

IDFC First Bank on Monday approved the merger with IDFC. The swap ratio for the amalgamation of IDFC into and with IDFC FIRST Bank is 155 equity shares each of IDFC First Bank for every 100 shares of face IDFC. V Vaidyanathan, MD and CEO of IDFC First Bank, talks about the benefit of merger in a telephonic interview with Manojit Saha. Edited excerpts:

What is the scheme of merger just announced by IDFC and IDFC First Bank?

IDFC holds 39.93 per cent in IDFC FIRST Bank. As part of the merger, IDFC FIRST Bank will issue 155 equity shares for