The Competition Commission of India (CCI) has approved the proposed acquisition of up to 9.99% of the paid-up share capital of IDFC First Bank Limited by Currant Sea Investments B.V. This acquisition will be achieved through Currant Sea Investments B.V.'s subscription to 812,694,722 compulsorily convertible cumulative preference shares (CCPS) of IDFC First Bank. Currant Sea Investments B.V. is an investment holding company based in the Netherlands, while IDFC First Bank Limited provides a range of banking and financial services.
Key Entities Referenced
Competition Commission of India: Regulatory body that approved the acquisition.
CCI: Abbreviation for Competition Commission of India.
Currant Sea Investments B.V.: The acquirer in the proposed acquisition.
IDFC First Bank Limited: The target company being acquired.
PIB Delhi: Press Information Bureau, Delhi, the source of the information.
IDFCTarget: Abbreviated form referring to IDFC First Bank Limited as the target of the acquisition.
81,26,94,722: Number of compulsorily convertible cumulative preference shares (CCPS) being subscribed to.
CCPS: Abbreviation for compulsorily convertible cumulative preference shares.
Currant SeaAcquirer: Abbreviated form referring to Currant Sea Investments B.V. as the acquirer.
Netherlands: Country where Currant Sea Investments B.V. is incorporated.
MSMEs: Micro, Small & Medium Enterprises, a customer segment of IDFC First Bank Limited
NRI: Non-Resident Indian, a customer segment of IDFC First Bank Limited
FASTag: A product offered by IDFC First Bank Limited
NBAD Release ID: 2133622: A release identifier for the news article.
Competition Commission of India
CCI approves the proposed acquisition of up to
9.99% of the paid up share capital of IDFC First
Bank Limited by Currant Sea Investments B.V.
Posted On: 03 JUN 2025 7:02PM by PIB Delhi
The Competition Commission of India has approved the proposed acquisition of up to 9.99% of the paid up
share capital of IDFC First Bank Limited by Currant Sea Investments B.V.
The proposed combination entails the acquisition of up to 9.99% of the paid up share capital (on a fully diluted
basis) of IDFC First Bank Limited (IDFC/Target) by way of subscription to 81,26,94,722 compulsorily
convertible cumulative preference shares (CCPS) by Currant Sea Investments B.V. (Currant Sea/Acquirer).
The Acquirer is an investment holding company incorporated in the Netherlands.
The Target is engaged in the business of providing banking services i.e., taking deposits; providing loans,
credit cards; distributing mutual fund and insurance products and providing other financial solutions like
corporate banking solutions, banking solutions for MSMEs, NRI banking, transaction banking & cash
management solutions, FASTag, trade finance, treasury & forex solutions and wealth management solutions.
Detailed order of the Commission will follow.
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NB/AD
(Release ID: 2133622)