Money & Banking

IDFC First Bank raises ₹3,000 crore through QIP

Our Bureau Mumbai | Updated on April 07, 2021

The Capital Raising Committee of the bank’s board has approved the closure of the issue on April 6

IDFC First Bank has raised ₹3,000 crore through a qualified institutional placement offer.

The Capital Raising Committee of the bank’s board has approved the closure of the issue on April 6.

“The Capital Raising Committee of the board of the bank at its meeting on April 6, 2021, approved the issue and allotment of 52.31 crore equity shares of face value of ₹10 each to qualified institutional buyers at an issue price of ₹57.35 per equity share (including a premium of ₹47.35 per equity share), aggregating to ₹3,000 crore, pursuant to the issue,” the bank said in a regulatory filing.

Investors

Bajaj Allianz Life Insurance Company (11.98 per cent) and Baillie Gifford Emerging Markets Equities Fund (11.39 per cent) are amongst investors who have been allotted more than five per cent of the equity shares offered in the issue.

The issue opened on March 30, 2021 and closed on April 6, 2021.

“Pursuant to the allotment of equity shares in the issue, the paid-up equity share capital of the bank stands increased from ₹567, 584,98, 550 consisting of 567,58,49,855 equity shares to ₹6198,95,35,150 consisting of 619,89,53,515 equity shares of face value ₹10 each,” IDFC First Bank said.

Published on April 07, 2021

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