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IDFC First Bank to raise Rs 7,500 crore from two investors through preferential allotment


Published on 2025-04-17 22:01:09 - ThePrint
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  • New Delhi [India], April 17 (ANI): IDFC First Bank has announced plans to raise around Rs 7,500 crore from two investors through the issuance of compulsorily convertible preference shares. The bank informed the stock exchanges in a filing on Thursday about the decision following a board meeting held on April 17, 2025. Show Full Article [
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IDFC First Bank has announced plans to raise Rs 7,500 crore through a preferential allotment of shares to two investors, namely V Vaidyanathan, the bank's Managing Director and CEO, and Rajiv Jain, the Chairman and CIO of GQG Partners LLC. Vaidyanathan will invest Rs 250 crore, while Jain, through his firm, will invest Rs 1,500 crore. The remaining Rs 5,750 crore will be raised from other investors. This fundraising effort is part of the bank's strategy to strengthen its capital base and support future growth. The shares will be issued at a price of Rs 90.25 each, which is a 5% discount to the current market price. The bank aims to complete the allotment process by the end of July 2024.

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[ https://theprint.in/economy/idfc-first-bank-to-raise-rs-7500-crore-from-two-investors-through-preferential-allotment/2592787/ ]