IDFC First Bank Marathi News: IDFC First Bank’s share price improved rapidly after falling 4% in early trade. Intrade growth from daily low level is about 5%. The board of directors of the private lender approved the priority issue of equity capital worth Rs 7,500 crore.
Bank Current Sea Investments B.V. Will issue a priority equity shares worth Rs 4,876 crore. The company is an associate of the Global Development Investor Warburg Pinks LLC, while the remaining shares worth Rs 2,624 crore will be offered to Platinum Inwix B2025 RSC, which is a fully owned subsidiary of the Abu Dhabi Investment Authority and is managed by its private equity division. The proposed issue is subject to shareholder and regulator approval.
“We believe that the Indian banking sector provides an exciting opportunity and is ready for long -term development. In Warburg Pinks, we have a long history of partnership with extraordinary teams. We have known the IDFC First Bank team since the beginning and have seen the construction of the bank since a decade. Supporting, “said Vishal Mahadevia, the head of Asia Private Equity and a global co-head of financial services in Warburg Pinks.
V Vaidyanathan, Managing Director and CEO of IDFC First Bank Vaidyanathan said, “From the very first day we have laid the foundation of the bank with a long -term approach to build a world -class bank in India.”
IDFC First Bank’s fourth quarter results
The bank’s total business deposits increased by 22.7% to Rs 3.94 lakh crore on an annual basis, compared to Rs 3.94 lakh crore in the same period of the previous financial year. Bank’s loans and advances increased by 20.3% to Rs 2.41 lakh crore from Rs 2 lakh crore for the previous financial year. It has increased by 4.7% respectively. Its customer deposits increased by 25.2% to Rs 2.42 lakh crore as compared to the previous year, which was Rs 1.93 lakh crore last year.
IDFC First Bank’s share performance
IDFC First Bank’s share price has increased by more than 8% in the last five business days. The stock has given a return of 18% in the last one month. However, it has fallen by 13% in the last six months. The stock destroyed more than 24% of investors’ assets last year.
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