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Home STOCKS IDFC 1st Bank raises almost Rs 2,000 crore by means of preferential...

IDFC 1st Bank raises almost Rs 2,000 crore by means of preferential allotment of shares

New Delhi: IDFC 1st Bank on Friday explained it has elevated just about Rs 2,000 crore by issuing shares on preferential basis to its promoters and a variety of other fiscal expert services gamers.
“The duly licensed committee of the board of administrators of the bank at its conference held right now, i.e. June 12, 2020, has authorized the allotment of 86,24,40,704 equity shares …at a price of Rs 23.19 per equity share (such as premium of Rs 13.19 for every share), to the allottees on preferential basis,” IDFC First Bank said in a regulatory filing.
Promoter IDFC Economic Holding Company Ltd acquired 34,49,76,282 shares, adopted by ICICI Prudential Life Insurance Business Ltd which subscribed to 25,87,32,212 shares in the private sector bank.
HDFC Life Insurance Enterprise Confined, Bajaj Allianz Life Insurance Constrained and Dayside Investment Ltd had allotments of 8,62,44,070 shares every single.
Stock of IDFC Initial Bank closed 4.02 for every cent up at Rs 25.90 apiece on BSE.

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