IDFC First Bank Secures Rs 4,876 Crore Investment from Warburg Pincus Affiliate

IDFC First Bank has raised Rs 4,876 crore through convertible cumulative preference shares allotted to Warburg Pincus's affiliate, Currant Sea Investments. This move grants the bank in-principle approvals from BSE and NSE. Despite a rise in total income, the bank reported a decline in profit and deterioration in asset quality.

In a significant financial maneuver, IDFC First Bank has successfully mobilized Rs 4,876 crore by issuing convertible cumulative preference shares to Currant Sea Investments B.V., an affiliate of the prominent global investor, Warburg Pincus.

The bank's board of directors approved the allotment of over 81.26 crore shares at an issue price of Rs 60 per unit, which has received in-principle nods from regulatory giants BSE and NSE as of May 15, 2025.

This strategic move comes on the heels of the bank's earlier decision to approve a similar allotment that constitutes a 10% stake in the private lender for this fiscal year. Despite increased total income, the first quarter reflects a 32% drop in net profit and a slight uptick in non-performing assets, indicating challenges in asset quality.

(With inputs from agencies.)