IDFC FIRST Bank has approved a ₹7,500 crore fundraise through a preferential allotment of compulsorily convertible cumulative preference shares (CCPS) to two strategic global investors — Currant Sea Investments B.V. and Platinum Invictus B 2025 RSC Limited.
Upon conversion of the CCPS into equity shares, the two investors will together own a combined 14.58% stake in the bank. The exact shareholding breakdown post-conversion is as follows:
Currant Sea Investments B.V. will acquire a 9.48% stake by subscribing to 81.26 crore CCPS at ₹60 each (including ₹50 premium), totaling an investment of ₹4,876 crore.
Platinum Invictus B 2025 RSC Limited will pick up a 5.10% stake through 43.71 crore CCPS, amounting to ₹2,623 crore at the same pricing.
Each CCPS will be compulsorily converted into one equity share, either at the investor’s discretion or automatically — based on a price trigger mechanism or by the end of 18 months from the allotment date.
In line with this strategic investment, Currant Sea will also receive the right to nominate one non-retiring non-executive director on the board of IDFC FIRST Bank, a move facilitated by a proposed amendment to the Articles of Association.
The preferential allotment is subject to shareholder approval and regulatory clearances from authorities including the RBI and Competition Commission of India.
This stake acquisition marks a key milestone for IDFC FIRST Bank, as the funds are expected to boost its capital base and support long-term growth and expansion plans.
Disclaimer: This article is based on disclosures made by IDFC FIRST Bank to stock exchanges. It is for informational purposes only. Please consult a certified financial advisor before making any investment decisions.
