IDFC First Bank has received approval to raise fund through private placement of upto 2,000 Unsecured, Subordinated, Rated, Listed, Non-Convertible, Fully Paid-Up, Taxable, Redeemable Basel III Compliant Tier 2 Bonds denominated in Rupees of a face value of Rs 1 crore each, having an aggregate nominal value of upto Rs 2,000 crore, in one or more tranches.
Further, within the aforesaid limit of Rs 2,000 crore, the Committee has approved the first tranche Placement Memorandum for Private Placement of upto 1,500 bonds with issue size of Rs 1,000 crore and a Green Shoe Option to retain oversubscription up to Rs 500 crore, having an aggregate nominal value of upto Rs 1,500 crore.
IDFC First Bank provides a range of financial solutions to individuals, small businesses and corporates.
