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IDFC, promoter of IDFC First Bank, will infuse `2,196 crore in the lender through an equity share issue on a preferential basis. The bank will issue 378 million shares to the IDFC Financial Holding Company, a subsidiary of IDFC, at `58.18 apiece. On Friday, shares of IDFC First Bank ended at `58.80 on BSE, 1.3% lower compared to its previous close.
“The board of directors of the bank has approved to issue 378 million shares on a preferential basis, to IDFC Financial Holding Company Limited, wholly-owned subsidiary of IDFC Limited, at `58.18 per share amounting to `2,196 crore,” the bank said in an exchange filing.
Post the allocation, the shareholding of the IDFC Financial Holding Company will increase to 39.99% as compared to 36.37%. The public shareholding in the bank is at 63.62% as of December 31. Cloverdell Investment and Dayside Investment, both entities owned by private equity major Warburg Pincus, hold 7.56% and 1.47% stake, respectively, in the bank. ICICI Prudential Life Insurance Company holds 3.20% stake, while the government holds 4.19% stake in the bank.
The bank’s capital adequacy ratio was at 16.06% with CET-1 ratio at 13.49% as on December 31.
