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New Delhi, Feb 4 (PTI) IDFC First Bank on Saturday said its board has approved allotment of 37.75 crore shares to a subsidiary of IDFC on preferential basis for ₹2,196 crore. Equity shares of face value of ₹10 each fully paid-up, on a preferential basis will be issued IDFC Financial Holding Company Limited at a price of ₹58.18 per unit, including premium of ₹48.18 per share, IDFC First Bank said in a regulatory filing.

The proposal is subject to acceptance of the offer by the board of IDFC and approval of the shareholders of the bank, it said.

IDFC First Bank to raise ₹2,196 crore via preferential allotment of shares

Equity shares of face value of ₹10 each fully paid-up, on a preferential basis will be issued IDFC Financial Holding Company Limited at a price of ₹58.18 per unit, including premium of ₹48.18 per share, IDFC First Bank said in a regulatory filing.

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IDFC First Bank to raise ₹2,196 crore via preferential allotment of shares

Equity shares of face value of ₹10 each fully paid-up, on a preferential basis will be issued IDFC Financial Holding Company Limited at a price of ₹58.18 per unit, including premium of ₹48.18 per share, IDFC First Bank said in a regulatory filing.

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