IDFC First Bank has received approval for the proposal to raise equity capital of Rs 2,000 crore by way of a preferential issue to marquee investors including ICICI Prudential Life Insurance Company, HDFC Life Insurance Company, Bajaj Allianz Life Insurance, Dayside Investment (Warburg Pincus group), and to its promoter, IDFC. This is subject to shareholder and other necessary approvals.
The Board of IDFC First Bank, in its meeting held on May 01, 2020 considered and approved the proposal to raise of Rs 2000 crore through a preferential issue of fully paid-up 86.24 crore equity shares at a face value of Rs 10 each at a price of Rs. 23.19 per equity share, to existing and new investors. The Bank will raise fresh equity capital (qualifying for CET1) of Rs 800 crore from IDFC Financial Holding Company, Rs 600 crore from ICICI Prudential Life Insurance Company, Rs 200 crore from Dayside Investment (Warburg Pincus group), Rs 200 crore from HDFC Life Insurance Company and Rs 200 crores from Bajaj Allianz Life Insurance.
IDFC First Bank provides a range of financial solutions to individuals, small businesses and corporates.
| Company Name | CMP |
|---|---|
| HDFC Bank | 781.20 |
| ICICI Bank | 1264.80 |
| Axis Bank | 1269.40 |
| Kotak Mahindra Bank | 380.75 |
| Indusind Bank | 949.85 |
| View more.. | |
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