Archive · 20 Aug 2025
IDFC First Bank Approves Share Allotment to Raise Funds
IDFC First Bank is selling new shares to raise money.
They're selling special shares called preference shares to a company called Platinum Invictus B. The bank's board approved selling these shares, totaling about Rs 2,623 crore.
Each share costs Rs 60.
The stock price went up a little bit after this announcement.
This fundraising helps the bank with its business, like lending and investments.
IDFC First Bank's board approved the allotment of preference shares.
The bank will issue Rs 43.72 crore compulsorily convertible cumulative preference shares.
Platinum Invictus B will receive the shares at an issue price of Rs 60 per share.
IDFC First Bank aims to raise approximately Rs 2,623 crore.
The stock rose 2.07% on Tuesday, reaching Rs 71.33.
- Who
- IDFC First Bank and Platinum Invictus B 2025 RSC Limited.
- What
- IDFC First Bank's board approved the allotment of preference shares to raise funds.
- When
- August 19, 2025
- Where
- Not explicitly mentioned, but presumably in India where the bank operates.
- Why
- To raise approximately Rs 2,623 crore through the allotment of shares.
- Bank
- IDFC First Bank
- Share Type
- Compulsorily Convertible Cumulative Preference Shares
- Shares Allotment
- 43.72 crore
- Issue Price
- Rs 60 per share
- Investor
- Platinum Invictus B 2025 RSC Limited
- Amount Raised
- Rs 2,623 crore
- Stock Movement
- Rose 2.07%