Shares of IDFC Bank today surged over 7 per cent after it said it has received RBI’s approval for merger of Capital First, Capital First Home Finance and Capital First Securities with the company. Also Read - RBI Slaps Penalties on Bank of India, Karnataka Bank For Non-compliance With Certain Norms

The stock soared 7.32 per cent to end at Rs 41.05 on BSE. During the day, it jumped 8.49 per cent to Rs 41.50. Also Read - Photos of Blue, Clear and Breathtaking Yamuna River Amid Coronavirus Lockdown go Viral

On NSE, shares of the company surged 7 per cent to close at Rs 41.05. Also Read - Delhi Police Arrests PFI Member for Spreading ‘False Propaganda’ During Anti-CAA Protests

Shares of Capital First also rose by 5.32 per cent to close at Rs 561.35 on BSE.

“The Reserve Bank of India (RBI) has, via its letter dated June 4, 2018, conveyed its ‘no objection’ for the voluntary amalgamation of Capital First Ltd, Capital First Home Finance Ltd and Capital First Securities Ltd with IDFC Bank,” IDFC Bank said in a regulatory filing.

Earlier in January, the company said its board of directors has approved amalgamation of the three entities with IDFC Bank.

This is published unedited from the PTI feed.