IDFC First Bank Approves Preferential Issue Of Rs 3,200 Cr
Post allotment, the issued and paid-up equity share capital of the bank will increase to 7,47,41,51,443
The Board of IDFC First Bank at its meeting held on 30 May 2024 has approved to issue and allotting 39,68,74,600 equity shares of face value of Rs 10 each at a price of Rs 80.63 per share aggregating to Rs 3200 crore on a preferential basis.
Post allotment, the issued and paid-up equity share capital of the Bank will increase from 7,07,72,76,843 equity shares of Rs 10/- each fully paid-up to 7,47,41,51,443 fully paid-up equity shares of Rs 10 each.
“The Board of Directors of the Bank at its meeting held today i.e., 30 May 2024, has, inter-alia, considered and approved to Issue, offer and allot 39,68,74,600 equity shares of face value of Rs 10 each fully paid-up, on a preferential basis, to the allottees, at a price of Rs 80.63 per equity share, amounting to Rs 3,200 crore(‘Preferential Issue’), in accordance with the applicable provisions of the Companies Act, 2013 and Sebi ICDR Regulations, and also subject to approval of the shareholders of the Bank,” the company stated.
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