IDFC First Bank fixes floor price for Rs 3,000 cr QIP at Rs 60.34/share

NEW DELHI: Private sector on Tuesday said it has fixed the floor price at Rs 60.34 for the Rs 3,000 crore qualified institutional placement (QIP) issue.

The Capital Raising Committee of the Board also decided that the bank may at its discretion offer a discount of not more than 5 per cent on the floor price for the issue, First Bank said in a regulatory filing.

Further, it said, a meeting of the Capital Raising Committee of the bank will be held on April 6 to consider and determine the issue price of shares to the institutional investor including a discount, if any.