BANK NEWS
IDFC First Bank raises Rs 3,200 crore
The bank’s board has approved the allotment of over 39.68 crore shares at Rs 80.63 per share.
IDFC First Bank has raised Rs 3,200 crore by selling shares to six insurance companies, including LIC and HDFC Life.
The bank’s board has approved the allotment of over 39.68 crore shares at Rs 80.63 per share.
The insurers participating in this fundraising include Life Insurance Corporation of India, HDFC Life, Aditya Birla Sun Life Insurance, Bajaj Allianz Life Insurance, ICICI Lombard General Insurance, and SBI General Insurance.
In a regulatory filing, IDFC First Bank informed that an authorized committee of the board of directors approved the allotment of more than 39.68 crore shares for Rs 80.63 per scrip, "aggregating to Rs 3,200 crore".
Read Also : Defence Ministry sign Rs 387.44 crore contract for Indian Coast Guard18.6 crore shares have been allotted to LIC, increasing LIC's stake in IDFC First Bank to 2.68%.
Read Also : NLCIL sign Agreements to boost Renewable Energy in RajasthanNews Must Read
- NLCIL sign Agreements to boost Renewable Energy in Rajasthan
- PM Modi approves two Rail Projects of approx Rs. 6,798 crore
- FIU fines Rs 54 lakh on Union Bank of India for multiple PMLA violations
- Hindustan Petroleum step for commissioning cargo for Chhara terminal
- Pranav Chawda chosen as JP Morgan Chase Bank India CEO
- BEML targets Rs 900 cr capex till FY25 with re-joining construction equipment space
- BEML Limited onboards two New Directors
- NLC India Limited Bags First Prize for Swachhata Campaign
- Chennai Petro shares plummets as over 11% amid Q2 net loss, negative refining margins
- Mazagon Dock announces 1:2 stock split and dividend of Rs 23 per share