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IDFC First Bank raises Rs 3,000 crore equity capital through QIP

IDFC First Bank has raised Rs 3,000 crore through QIP in which global marquee investors like BNP Paribas and Baillie Gifford participated alongside domestic players such as Bajaj Allianz Life and HDFC Life. The qualified institutional placement (QIP) closed on Tuesday and the lender issued 52.31 crore fresh equity shares at Rs 57.35 per share. On April 6, 2021, the bank has raised Rs 3,000 crore through Qualified Institutional Placement to marquee international and domestic investors by issuing 52.31 crore fresh equity shares having face value of Rs 10 each, at a price of Rs 57.35 per share, IDFC First Bank said in a regulatory filing on Wednesday. Out of this, 68.33 per cent of the allotment was made to foreign investors and 31.67 per cent to domestic investors.

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