IDFC First Bank Raises ₹75 Billion Fund to Fuel Growth

IDFC First Bank Ltd. has managed to secure shareholders' vote in favor of a ₹75 billion fund raise, which is a key milestone in its growth plan. The bank is raising funds by issuing compulsorily convertible preference shares (CCPS) on a preferential basis, securing investments from Warburg Pincus and Abu Dhabi Investment Authority (ADIA).

 

Important Points:

This fund raising places IDFC First Bank on a path of steady expansion, allowing it to address increasing demand for financial products and augment market reach.

 

Source: CNBC TV18, Business Standard, Financial Express