Despite facing challenges such as a share sale failure and allegations of currying favors from opposition politicians, tycoon Gautam Adani still maintains strong relationships with India s government and global banks. Adani s conglomerate, which has expanded its assets significantly, continues to have substantial relationships with 20 global banks. The conglomerate s hard assets, including ports, airports, mines, power stations, and more, make it an attractive prospect for financing.
The unique transaction, which accounts for 0.76 per cent of the bank’s equity as of June 30, 2023, will see Vaidyanathan subscribing to fresh shares of the bank through the exercise of stock options
As part of a merger between Capital First and IDFC Bank in December 2018, Vaidyanathan was granted stock options. As these options are now approaching their expiry, he is exercising them by paying exercise price to the bank.
IDFC First Bank: Capital First had originally granted CMD stock options to Vaidyanathan. Capital First merged with IDFC Bank in December 2018. These stock options were converted to IDFC FIRST Bank stock options.