The Board of Directors of IDFC First Bank at its assembly held on Thursday thought of and permitted to issue and allot 39,68,74,600 fairness shares of face worth of ₹10 every totally paid-up, on a preferential foundation at a value of ₹ 80.63 per fairness 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 financial institution mentioned in a submitting.
