At meeting held on 01 May 2020
The Board of IDFC First Bank at its meeting held on 01 May 2020 has approved the issue and allotment of 86,24,40,704 equity shares of Rs 10 each at price of Rs 23.19 per share for an aggregate amount of Rs 2000 crore on preferential basis.The total number of paid up equity shares of the bank will be 567,23,43,720 post the issue. The networth of the bank post the issue and as added to the networth as of 31 December 2019 will be Rs. 17,240 crore.
The revised Book Value per Share (BVPS) of the Bank after the capital raise will be Rs. 30.40 compared to Rs. 31.82 as on December 31, 2019. This is calculated on Networth as of 31 December 2019 plus fresh issue of Rs. 2000 crores, and divided by number of shares post issue.
The Board also approved the increase in the existing Authorised Share Capital of the Bank from Rs 5363 crore to Rs 7538 crore.
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