The Board of Directors of IDFC First Bank at its meeting held on Thursday considered and approved to issue and allot 39,68,74,600 equity shares of face value of ₹10 each fully paid-up, on a preferential basis at a price of ₹ 80.63 per equity share, amounting to ₹ 3,200 crore.
“With this proposed capital raise of ₹ 3,200 crore, the overall capital adequacy of the bank will further increase to 17.49%, as computed on the risk weighted assets as on March 31, 2024, which will put the bank in a strong position to participate in future growth,” the bank said in a filing.