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IDFC FIRST Bank board approves fund raising plan

IDFC FIRST Bank said its board approved raising of funds for an amount aggregating up to Rs 3,000 crore, in one or more tranches. The private sector bank said fund raising will be by way of issuance of securities, through one or more permissible mode(s), including but not limited to a Private Placement, Qualified Institutions Placement, Follow-on Public Offering or a combination thereof. The stock hit a 52-week high of Rs 58.9 on 18 February 2021. The stock hit a 52-week low of Rs 17.75 on 24 March 2020. The announcement was made after market hours yesterday, 18 February 2021. Shares of IDFC FIRST Bank gained 3.01% to settle at Rs 58.10 yesterday.

Board of IDFC First Bank approves fund raising up to Rs 3000 cr

IDFC First Bank gets board approval for Rs 3,000 crore fund mop-up

IDFC First Bank gets board approval for Rs 3,000 crore fund mop-up
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IDFC FIRST Bank Ltd to raise Rs 3000 crore

IDFC FIRST Bank Ltd to raise Rs. 3000 crore Posted On: 2021-02-18 09:02:24 (Time Zone: Arizona, USA) The Board of Directors ( Board ) of IDFC FIRST Bank Limited ( Bank ) at its meeting held today i.e., Thursday, February 18, 2021, noted the significant opportunities for growth of the Bank based on the strong capabilities the Bank has built and the strong outlook for economic recovery in India, and has approved raising of funds for an amount aggregating up to ₹ 3,000 crore (Rupees Three Thousand Crore), in one or more tranches, on such terms and conditions as it may deem fit, by way of issuance of Securities, through one or more permissible mode(s), including but not limited to a Private Placement, Qualified Institutions Placement, Follow-on Public Offering or a combination thereof, subject to shareholders approval through a Postal Ballot process and regulatory and other approvals, as may be required under applicable law.

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