IDFC First Bank plans a Rs 3,200 cr ($424.46 mn) equity raise through preferential issue to strengthen financial position and support growth.

IDFC First Bank plans to raise Rs 3,200 crore ($424.46 million) through a preferential issue of equity shares. The bank will issue 39.68 crore shares at Rs 80.63 per share to selected investors, including LIC, HDFC Life, Aditya Birla Sun Life Insurance, Bajaj Allianz Life Insurance, ICICI Lombard, and SBI General Insurance. The fundraising aims to strengthen the bank's financial position and support its growth initiatives.

May 30, 2024
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