IDFC First Bank likely to raise ₹3,000 crore via QIP
₹3,000 crore via a qualified institutional placement (QIP), reported CNBC TV 18 citing sources. The report suggests that the private lender is likely to raise funds via QIP on October 3.
Mint could not independently verify the report. So far, there has been no official announcement by the bank.
According to the report, the QIP price is likely to remain around ₹90-91 per share. It comes at a 3-4 percent discount to the closing price of ₹94.25 on October 3.
In August this year, shareholders in the bank had approved fund raising in the company's annual general meeting. In 2021, the bank had launched a QIP in that year as well.
At that time, the isssue price was fixed at ₹57.35 per share. At that time, the banking firm had allotted 52.31 crore equity shares to qualified institutional buyers to raise ₹3,000 crore."Exciting news! Mint is now on WhatsApp Channels
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