IDFC has received in-principle approval from board of directors to invest around Rs 2200 crore in IDFC FIRST Bank to take its equity holding up from the current 36.38% to a maximum of up to 40%. This will provide growth capital to the Bank.
The Board also declared a special interim dividend of Rs 11 per share to the shareholders. This is the largest dividend per share ever declared by IDFC. The government of India, which is IDFC's largest shareholder, will receive Rs 287 crore as this special interim dividend. The board of directors at its meeting held on February 01, 2023 has approved the same.
IDFC is operating as an infrastructure finance company, i.e. financing infrastructure projects in sectors like energy, telecommunication, transportation, commercial and industrial projects including hospital, education, and tourism and hotels.
