20-07-2025
IDFC First Bank In Focus As RBI Clears Warburg's 9.99% Stake Investment
This development follows a similar clearance granted by the Competition Commission of India (CCI) on June 3 for the proposed investment. Currant Sea had sought the CCI's approval in April for the stake acquisition.
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.
