IDFC First Bank zooms on raising Rs 3,000 crore

IDFC First Bank Ltd. | Bank - Private | BFSI | BSE: 539437 | NSE: IDFCFIRSTB

07 Apr 2021 Evaluate

IDFC First Bank is currently trading at Rs. 56.70, up by 1.40 points or 2.53% from its previous closing of Rs. 55.30 on the BSE.

The scrip opened at Rs. 55.30 and has touched a high and low of Rs. 56.95 and Rs. 55.05 respectively. So far 1242051 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 69.30 on 04-Mar-2021 and a 52 week low of Rs. 18.50 on 22-May-2020.

Last one week high and low of the scrip stood at Rs. 57.80 and Rs. 53.75 respectively. The current market cap of the company is Rs. 35179.06 crore.

The promoters holding in the company stood at 40.00%, while Institutions and Non-Institutions held 27.51% and 32.49% respectively.

IDFC First Bank’s Capital Raising Committee has approved the issue and allotment of 52,31,03,660 Equity Shares of face value of Rs 10 each to qualified institutional buyers at an issue price of Rs 57.35 per Equity Share (including a premium of Rs 47.35 per Equity Share), aggregating to Rs 3,000 crore pursuant to the Issue.

Pursuant to the allotment of Equity Shares in the Issue, the paid-up Equity Share capital of the Bank stands increased to Rs 6198,95,35,150 consisting of 619,89,53,515 Equity Shares. The Capital Raising Committee at its meeting held on April 06, 2021, has approved the issue and allotment of the same.

IDFC First Bank provides a range of financial solutions to individuals, small businesses and corporates.