HomeBusinessIDFC First Bank secures Rs 2,000 crore through allotment of preferential shares

IDFC First Bank secures Rs 2,000 crore through allotment of preferential shares

Date:

Trending

- Advertisement -
Advertise During Budget
Advertise During Budget
Advertise During Budget
Advertise During Budget

Mumbai-based IDFC First Bank has raised nearly Rs 2,000 crore by issuing shares on a preferential basis to its promoters and others.

In a filing at the stock exchange, IDFC First Bank said, “The Committee of the board of directors of the bank at its meeting held on June 12, 2020, has approved the allotment of 86,24,40,704 equity shares at a price of Rs 23.19 per equity share (including a premium of Rs 13.19 per share), to the allottees on a preferential basis.”

- Advertisement -
Name of the AllotteesCategoryNo. of Shares allotted
IDFC Financial Holding Company LimitedPromoter 34,49,76,282
ICICI Prudential Life Insurance Company LimitedNon-Promoter 25,87,32,212
Dayside Investment LtdNon-Promoter 8,62,44,070
HDFC Life Insurance Company Limited Non-Promoter 8,62,44,070
Bajaj Allianz Life Insurance Limited Non-Promoter 8,62,44,070
Total shares allotted86,24,40,704

“Promoter IDFC Financial Holding Company Ltd bought 34,49,76,282 shares, ICICI Prudential Life Insurance Company Ltd acquired 25,87,32,212 shares, Dayside Investment Ltd bought 8,62,44,070 shares,” the filing said.

Adding to the filing, the bank said, “HDFC Life Insurance Company Ltd and Bajaj Allianz Life Insurance Ltd had allotments of 8,62,44,070 shares each.”

“With the allotment of the above shares, the equity base of the Bank stands increased from the present level of 4,80,99,03,016 (Nos.) to 5,67,23,43,720 (Nos.) equity shares of Rs. 10/- each,” the filing further added.

THE SNAPSHOTS, IN YOUR INBOX

Get quick snaps of everyday happening, directly in your inbox.

- Advertisement -

We don’t spam! Read our privacy policy for more info.

- Advertisement -
Krishna Mali
Krishna Mali
Founder, CEO & Group Editor of TechGraph.
spot_img

More Latest Stories

Related Stories