IDFC First Bank raises ₹3,000 crore through QIP
April 07, 2021
×
The Capital Raising Committee of the bank’s board has approved the closure of the issue on April 6
IDFC First Bank has raised ₹3,000 crore through a qualified institutional placement offer.
The Capital Raising Committee of the bank’s board has approved the closure of the issue on April 6.
“The Capital Raising Committee of the board of the bank at its meeting on April 6, 2021, approved the issue and allotment of 52.31 crore equity shares of face value of ₹10 each to qualified institutional buyers at an issue price of ₹57.35 per equity share (including a premium of ₹47.35 per equity share), aggregating to ₹3,000 crore, pursuant to the issue,” the bank said in a regulatory filing.
IDFC First Bank has raised Rs 3,000 crore through QIP in which global marquee investors like BNP Paribas and Baillie Gifford participated alongside domestic players such as Bajaj Allianz Life and HDFC Life. The qualified institutional placement (QIP) closed on Tuesday and the lender issued 52.31 crore fresh equity shares at Rs 57.35 per share. On April 6, 2021, the bank has raised Rs 3,000 crore through Qualified Institutional Placement to marquee international and domestic investors by issuing 52.31 crore fresh equity shares having face value of Rs 10 each, at a price of Rs 57.35 per share, IDFC First Bank said in a regulatory filing on Wednesday. Out of this, 68.33 per cent of the allotment was made to foreign investors and 31.67 per cent to domestic investors.
IDFC First Bank gains after raising funds via QIP issue business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.