On March 28, IDFC First Bank shares fell 3.5% due to a block deal involving Warburg Pincus affiliate's stake sale.
IDFC First Bank shares fell 3.5% on March 28 after a block deal involving the sale of a 2.6% stake in the bank, or 18.3 crore shares. Warburg Pincus affiliate Cloverdell Investment is reportedly planning to exit its entire 2.25% stake, aiming to secure at least ₹1,191.40 crore. This is not the first time Warburg Pincus has divested its stake in the bank, having done so in December and September last year.
March 27, 2024
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