IDFC Bank Share Price Update – The bank has approved raising capital worth Rs 2,000 crore via a preferential issue.
The bank will issue shares to its promoter IDFC, along with ICICI Prudential, HDFC Life, Bajaj Allianz Life and Dayside Investment which belongs to the Warbug Pincus Group.
Post the fund raise, the bank’s Capital Adequacy Ratio will rise to 15.5 percent while the CET-1 ratio will rise to 15.3 percent.
Shares fell as much as 7.7 percent to Rs 20.2 and are down for the third straight day.
