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M&A Deal Summary

IDFC First Bank Acquires Capital First

On December 18, 2018, IDFC First Bank acquired financial services company Capital First from GIC

Acquisition Highlights
  • This is IDFC First Bank’s 1st transaction in the Financial Services sector.
  • This is IDFC First Bank’s 1st transaction in India.

M&A Deal Summary
Date 2018-12-18
Target Capital First
Sector Financial Services
Buyer(s) IDFC First Bank
Sellers(s) GIC
Deal Type Merger

Target

Capital First

Mumbai, India
Capital First is a diversified specialty finance company that provides loans to retail customers (including secured loans to small and medium enterprises, consumer durables loans, two-wheelers loans and gold loans) and corporates including loans to real estate developers and loans to business owners secured against shares of publicly traded companies. Capital First is based in Mumbai, India.

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Buyer(S) 1

Buyer

IDFC First Bank

Mumbai, India
Category Company
Founded 2014
Sector Financial Services
Employees27,804
Revenue 264.0B INR (2025)
DESCRIPTION

IDFC First Bank offers monthly interest credit on savings accounts, and also offer low APR rates on credit cards, first bank to abolish fees for 25 commonly-used services in savings accounts, revolutionized credit cards by issuing lifetime free credit cards with no minimum spend conditions and 10X rewards, simplified commonly used descriptions in Banking. IDFC First Bank was founded in 2014 and is based in Mumbai, Maharashtra.

DEAL STATS #
Overall 1 of 2
Sector: Financial Services M&A 1 of 2
Type: Merger M&A Deals 1 of 2
Country: India M&A 1 of 2
Year: 2018 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-27 IDFC

Mumbai, India

IDFC provides financial, advisory, and management services for the infrastructure sector in India. IDFC was founded in 1997 and is based in Mumbai, Maharashtra.

Buy -

Seller(S) 1

SELLER

GIC

Investor Investor Investor Investor Investor

Category Sovereign Wealth Fund
Founded 1981
Size Mega
Type Sector Agnostic
DESCRIPTION

GIC Private Ltd. is the investment arm of Singapore. The Group primarily invests through three investment groups, including public markets, private equity and real estate. GIC's private equity practice looks to invest in funds as well as directly in companies. GIC is based in Singapore with additional offices globally.

DEAL STATS #
Overall 2 of 15
Sector: Financial Services M&A 2 of 3
Type: Merger M&A Deals 1 of 2
Country: India M&A 1 of 1
Year: 2018 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-12 Biotrop

São Paulo, Brazil

Biotrop is an ag-tech focused on biologicals and natural sustainable solutions for agriculture. As the result of the dedication of a select group of professionals passionate about agribusiness, the company offers the most high-tech biological inputs to growers. Biotrop was founded in 2018 and is based in São Paulo, Brazil.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-04 The Ultimate Software Group

Weston, Florida, United States

The Ultimate Software Group, Inc. is a provider of cloud-based human capital management (HCM) solutions. Ultimate delivers HR, payroll, talent, and time and labor management solutions that connect people with the information they need to work more effectively. The Ultimate Software Group was founded in 1990 and is based in Weston, Florida.

Buy $11.0B
Mergr

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