May 07, 2025 06:28 pm (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Seven Pakistani soldiers killed, five injured in bomb attack on military convoy in southwestern Balochistan | Modi, Albanese eye to advance India-Australia Comprehensive Strategic Partnership during telephone conversation | Hold dialogue with all political parties on caste census: Mallikarjun Kharge writes to PM Modi | PM Modi meets NSA Ajit Doval amid India's wait for retaliation against Pahalgam terror attack | Pakistan grilled at UNSC amid rising tension with India after Pahalgam terror attack | 'We'll do everything we can': US House Speaker backs India in fight against terrorism after Pahalgam attack | Centre asks several states to conduct security mock drills amid tensions with Pakistan, first since 1971 | PM Modi holds meeting with Defence Secy as India plans retaliation against Pahalgam attack | Terror hideout busted in Kashmir's Poonch amid India-Pak border tensions after Pahalgam attack | India snaps water flow to Pakistan from Baglihar dam on Chenab river in Pahalgam fallout

IDFC First Bank's board approves issuance of preferential shares worth Rs 3,200 cr

| @indiablooms | May 31, 2024, at 05:07 am

Mumbai: IDFC First Bank on Thursday revealed that its board has approved the issuance of shares valued at Rs 3,200 crore on a preferential basis, priced at Rs 80.63 per equity share.

The shares will be allotted to LIC, HDFC Life, Aditya Birla Sun Life, Bajaj Allianz, ICICI Lombard, and SBI General.

“The bank intends to raise funds of Rs 3,200 crore by issuing equity shares of the bank on a preferential basis. With this proposed capital raise of Rs 3,200 crore, the overall capital adequacy of the bank will further increase to 17.49 per cent, as computed on the risk-weighted assets as of March 31, 2024, which will put the bank in a strong position to participate in future growth,” the bank said in a release.

Following the allotment, the issued and paid-up equity share capital of the bank will rise from 707,727,684 equity shares of Rs 10 each to 747,415,144 equity shares of Rs 10 each, all fully paid-up.

The bank noted that this issuance requires shareholder approval.

Additionally, the board has approved conducting a postal ballot to seek shareholder consent for the issuance and allotment of equity shares on a preferential basis to the proposed allottees.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
PM Modi on Budget 2024 Jul 23, 2024, at 09:30 pm
Close menu