IDFC First Bank In Focus As RBI Clears Warburg's 9.99% Stake Investment
The regulatory approvals come shortly after IDFC First Bank's shareholders voted against appointing a non-retiring board member from Currant Sea Investments. The proposal received only 64.1 percent support, falling short of the 75 percent approval required under corporate governance norms.
Previously, Warburg Pincus and the Abu Dhabi Investment Authority (ADIA) had announced a joint investment commitment of Rs 7,500 crore in IDFC First Bank through compulsorily convertible preference shares. As part of this plan, IDFC First Bank will issue 81.26 crore preference shares to Currant Sea Investments and 43.71 crore shares to ADIA-backed Platinum Invictus, both priced at Rs 60 per share.
The last trading price of IDFC First Bank is at Rs 73.07 as of July 18 on BSE. The stock's 52-week movement indicates a high of Rs 78.50 and a low of Rs 52.50.
As of July 18, the m-cap of IDFC First Bank stood at Rs 53,596 crore. It is a constituent of BSE 200.
The Board at its meeting held on April 26, 2025 had considered and recommended dividend for the Financial Year 2024-25. In this regard, kindly note that the record date for determining the eligibility of members entitled to receive the said dividend is Friday, July 11, 2025.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
Guaranteed skill training, jobs to needy soon: Govt
Lucknow: The Yogi govt is set to launch a major initiative under its zero poverty campaign (ZPC) in UP. As part of it, members of families identified through the campaign will receive guaranteed skill training, along with stable livelihood opportunities that will ensure a steady income and a better quality of life. Chief secretary Manoj Kumar Singh said Chief Minister Yogi Adityanath's ZPC, aimed at empowering the poor, will also promote social harmony. "It can become a model for the entire country, where govt and industries work together to fight poverty," he said. Singh said that under this campaign, the head of each identified poor family will be enrolled in a guaranteed skill training program. In the first phase, heads of 300 families will receive skill training, followed by all identified families across the state. The training will be provided by the Uttar Pradesh Skill Development Mission, with support from around 1,000 training partners. The training will focus on practical, job-oriented skills in areas where employment opportunities are high. The training will follow a comprehensive 360-degree approach, focusing on seven essential skill areas — including office and toilet cleaning, guest handling, housekeeping, and hospitality. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Bosnia And Herzegovina: New Container Houses (Prices May Surprise You) Container House | Search ads Search Now Undo To boost participants' confidence in professional environments, language skills will also be a key part of the training. The training will be aligned with industry standards to ensure both quality and relevance, equipping candidates to succeed in the corporate sector, said a govt spokesperson. After the training is complete, candidates will be placed in jobs with leading national and international companies such as Hotel Taj, State Bank of India (SBI), LT Limited, Medanta, and the Adani Group. Trained individuals will earn a minimum monthly salary of Rs 18,400, helping them support their families with dignity. To note, Yogi govt's guaranteed skilling programme and guaranteed placement programme under the ZPC have received strong support from industries across the state, the country and even abroad. So far, 40 major business leaders have pledged to provide jobs to members of families identified under the campaign, reflecting the wide reach and growing success of this initiative.
Time of India
an hour ago
- Time of India
‘Get up to 50k rewards for reporting power theft & discrepancies'
Bhopal: Help catch energy thieves and earn rewards! In a unique type of easy social audit of energy distribution, east discom--head quartered at Jabalpur-- has launched V Mitra—an app on which consumers can complain about energy theft and discrepancies, and get rewards ranging from Rs 10 to Rs 50,000. So far, Rs 1 lakh rewards were made. In a similar scheme of Central Discom, five people were rewarded so far in this financial year. Officials, however, say that the V Mitra app of East Discom is not only restricted to reporting power theft cases. "It is basically a sort of social audit of the distribution. Entire data is in public, and consumers can report anything that is not correct. It will help us rectify the data," managing director of Madhya Pradesh Purv Kshetra Vidyut Vitaran Company Limited, Anay Dwivedi, said. This is a versatile app and is one of its kind, say officials of east discom. "Besides reporting the theft cases, each and every connection of our discom is now geo-tagged. If any person finds that tagging is incorrect, he or she can report it. If it is incorrect, a nominal reward of Rs 10 is provided. Likewise, each and every connection is indexed, meaning details like the transformer to which the connection is connected are available in the public domain. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Flexible in AI & Data Science BITS Pilani Digital Apply Now Undo Any discrepancy in it could also be reported. Now, load enhancement-related complaints could also be made. Suppose an informer informs that the connection is of 2 kilowatts but the connected load is of 5 kilowatts of a domestic connection. Then, if it is found true, the informer gets Rs 25 per kilowatt as a reward," general manager commercial, East Discom, PK Agarwal, said. Till July 17, Discom received a total of 1,190 information entries from users across various circles under its jurisdiction. These submissions are currently under different stages of scrutiny and verification by the company's vigilance teams. In recognition of credible information that was successfully verified, MPPKVVCL processed monetary rewards for 49 consumers, amounting to a total disbursal of Rs 21,300. In addition, a provisional reward pool of Rs 75,800 was identified for further processing, which will be finalised subject to the outcome of ongoing validations by the vigilance department. Meanwhile, for central discom, which distributes electricity in Bhopal and Gwalior, the discom initiated a reward scheme for people informing about energy theft cases. Ten percent of the total recovery from power theft cases is paid to the person informing about it. Five percent of the 10 percent incentive amount given to informants for reporting illegal electricity use will be paid immediately after the final determination order is issued if the information is found to be correct. The remaining five percent is paid after full recovery, said April 1, 2025, Rs 11,500 were directly deposited into the bank accounts of five successful informants, said sources from central discom. Additionally, officials and employees involved in investigation and recovery were given a 3,000 rupee incentive added to their monthly salary, officials said. Now the amount is being transferred online directly into the bank accounts of informants, and before the online process began, seven successful informants received a total of Rs 2,18,000 in incentive payments for 63 cases where full payment was received, said official sources from central discom.
Time of India
an hour ago
- Time of India
Power staff's appeal to govt: Stall move to privatise discoms
Lucknow: A day after Uttar Pradesh Power Corporation Limited (UPPCL) chairman Ashish Kumar Goel said that the govt will privatise two out of five discoms, the All India Power Engineers Federation (AIPEF) issued a strong appeal to the central and state govts to halt the move. It also warned of nationwide protests if the privatisation move continues in UP. The call was made during the AIPEF Federal Council meeting held in Lucknow, chaired by Shailendra Dubey, with participation from senior office bearers across multiple states. The federation emphasised that privatisation threatens the interests of farmers and poor consumers and undermines the public sector's role in ensuring equitable power distribution. Citing Odisha's failed privatisation experiments—including the cancellation of Reliance Power's licences and recent notices to Tata Power companies for poor service—AIPEF argued that privatisation consistently failed to deliver. In UP, AIPEF alleged collusion with corporate houses, pointing to irregularities in the privatisation process, including the appointment of Grant Thornton as a consultant despite its penalised record in the US. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Why enterprise networks need both reach and resilience NetworkWorld | Tata Communications Undo The federation condemned the preparation of privatisation documents without proper asset valuation, potentially risking public assets worth over Rs 1 lakh crore. In Maharashtra, AIPEF criticised the "parallel license" model as a strategy to privatise profits, demanding its immediate cancellation. AIPEF also opposed privatisation in transmission and generation sectors, warning that tariff-based competitive bidding and joint ventures would lead to higher costs for consumers. It condemned the "repression of power employees through transfers, salary stoppages, and FIRs against union leaders". It demanded the withdrawal of these actions and urged consumers to support electricity workers in resisting privatisation. Representatives from power engineer associations across 20 states attended the meeting, signalling a united front against privatisation and a commitment to preserving the public character of India's power sector.
