IDFC First Bank Secures Rs 7,500 Crore Funding from Key Investors

IDFC First Bank plans to raise Rs 7,500 crore from Currant Sea Investments B.V. and Platinum Invictus B 2025 RSC Limited through compulsorily convertible preference shares. The bank's board approved changes in share capital structure, pending shareholder and regulatory approval, to facilitate the transaction.

IDFC First Bank has unveiled plans to bolster its financial standing by raising approximately Rs 7,500 crore from two investors through the issuance of compulsorily convertible preference shares. In an official filing to the stock exchanges on Thursday, the bank disclosed this decision following a board meeting held on April 17, 2025.

Per the exchange filing, the board sanctioned the fundraise from Currant Sea Investments B.V. and Platinum Invictus B 2025 RSC Limited through the future issuance of preference shares convertible into equity. The bank stated, 'We wish to inform that the Board of Directors ('Board') of the Bank at its meeting held today, i.e., April 17, 2025, has approved an aggregate fundraise of up to ~Rs 7,500 crore from two separate investors.'

To accommodate this strategic move, the board proposed modifications to the bank's existing share capital structure, maintaining an overall capital of Rs 14,000 crore. However, it intends to reclassify the current allocation, adjusting the distribution to 12.7 billion equity shares of Rs 10 and 1.3 billion preference shares of Rs 10 each. This restructuring awaits shareholder and regulatory consent for finalization.

(With inputs from agencies.)