IDFC First Bank allots 37.75 cr equity shares to IDFC Financial Holding Company

IDFC First Bank on 23 March 2023 has approved the allotment of 37,75,00,859 equity shares of face value of Rs 10 each fully paid-up at a price of Rs 58.18 per equity share (including premium of Rs 48.18 per equity share) to IDFC Financial Holding Company (IDFC FHCL), wholly-owned subsidiary of IDFC, Promoter, on preferential basis by way of private placement.

Consequently, IDFC FHCL's holding in the Bank will go up to approx. 39.99 % of the IDFC FIRST Bank's Paid-up equity share capital.10 each.

Post allotment, the issued and paid-up equity share capital of the Bank stands increased to 661,81,21,816 equity shares of Rs 10/- each fully paid-up.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)