💨 Abstract

IDFC First Bank plans to raise approximately Rs 7,500 crore from two investors via the issuance of compulsorily convertible preference shares. The funds will be raised by issuing preference shares that will convert into equity shares later. The bank will change its share capital structure to enable this fundraise, and the funds are expected to strengthen the bank's financial position, support future growth plans, and enhance lending capabilities.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖