Shriram Transport Finance on Monday reported 38.4 percent rise in consolidated net profit at Rs 879.16 crore for the third quarter ended December.
Etihad Airways has been insisting that Jet Airways' founder and Chairman Naresh Goyal must step down from the company's board and his stake should be slashed to 22% from 51% as a precondition for its heightened stakes.
As part of the merger agreement, shareholders will receive 139 shares of IDFC Bank for each 10 shares held of Warburg Pincus-backed Capital First.
In July, infrastructure lender IDFC, which entered the banking space in 2015, and Piramal Group's financial services firm Shriram entered an agreement for a merger plan to create the largest retail-focussed bank in the country
IDFC-Shriram merger deal likely to be reworked amid opposition from select shareholders, says Ajay Piramal
In July, IDFC and the Piramal Group-backed financial services major Shriram Group had agreed to merge
Two groups had already announced that the boards of Shriram Group and IDFC entered into an exclusivity arrangement for 90 days to jointly explore the possibility of merger.