IDFC FIRST Bank approves allotment of 37,75,00,859 shares

The duly authorized Committee of the Board of Directors of IDFC FIRST Bank Limited ("Bank") has today, i.e. March 23, 2023, approved the allotment of 37,75,00,859 (Thirty seven crore seventy five lakh eight hundred and fifty nine) equity shares of face value of ₹ 10/- each fully paid-up at a price of ₹ 58.18 per equity share (including premium of ₹ 48.18 per equity share) to IDFC Financial Holding Company Limited ("IDFC FHCL"), wholly-owned subsidiary of IDFC Limited, Promoter, on preferential basis by way of private placement. Consequently, IDFC FHCL's holding in the Bank will go up to approx. 39.99 % of the IDFC FIRST Bank's Paid-up equity share capital.

These shares shall rank pari-passu, in all respects, with the existing equity shares of the Bank.

The Bank has received in-principle approval from the Stock Exchanges, viz., National Stock Exchange of India Limited and BSE Limited, for issue of the aforesaid Equity Shares on Preferential basis. The application for listing and trading approval of the Stock Exchanges for the equity shares allotted as above will be made in due course.

Post allotment, the issued and paid-up equity share capital of the Bank stands increased to 661,81,21,816 equity shares of ₹ 10/- each fully paid-up.

Shares of IDFC First Bank Limited was last trading in BSE at Rs. 55.13 as compared to the previous close of Rs. 56.07. The total number of shares traded during the day was 933913 in over 2774 trades.

The stock hit an intraday high of Rs. 56.07 and intraday low of 55.00. The net turnover during the day was Rs. 51954567.00.

Source : Equity Bulls

Keywords

IDFCFirstBank INE092T01019 SharesAllotment IDFCFinancialHoldingCompany PrivatePlacement PreferentialIssue