Notification
Wagons Learning IPO is Open!
Apply for the Wagons Learning IPO through UPI in just minutes.
Open a Free Demat Account
Pay ZERO maintenance charges for the first year, get free stock picks daily, and more.
Trade Now, Pay Later with up to 4x
Never miss a good trading opportunity due to low funds with our MTF feature.
Track Market Movers Instantly
Stay updated with real-time data. Get insights at your fingertips.
IDFC First Bank Plans ₹3,200 Cr Capital Raise for Growth
By Bajaj Broking Team
May 31, 2024
2 mins read
Share Market News
Synopsis:
IDFC First Bank plans to raise ₹3,200 crore through a preferential issue to key institutional investors, strengthening its capital adequacy to 17.49%. With a robust deposit franchise and diverse loan portfolio, the bank aims for sustainable growth while maintaining asset quality.
IDFC First News Today
IDFC First Bank's Board has approved raising approximately ₹3,200 crore through a preferential issue to seize upcoming growth prospects. Around 39.68 crore shares will be allocated to prominent institutional investors in India, such as LIC, HDFC Life, ABSL Insurance, Bajaj Allianz Life, ICICI Lombard, and SBI General Insurance.
The issuance is set at ₹80.63 per share, marking a premium of 4.51%. Post-capital raise, the bank's capital adequacy is projected to rise to 17.49%.
IDFC First Q4 Results
The bank showcases robust financial metrics, including a 5-year CAGR of 37% in customer deposits and a growth rate that accelerated to 42% in FY24 over FY23. Similarly, the lender's overall loan book (including credit substitutes) grew by 25% year-on-year in FY24.
Maintaining healthy asset quality, the bank reports gross NPA and Net NPA at 1.88% and 0.60%, respectively, as of March 2024.
Additional Read: IDFC First Bank-Q4-Results
Diversified Product Portfolio
IDFC First Bank boasts a diversified product portfolio, spanning credit cards, gold loans, car financing, and more, catering to consumer, rural, MSME, and corporate segments. The bank emphasises its unique ability to sustainably grow its loan book while upholding high asset quality standards, positioning itself for continued success in the competitive banking landscape.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For All Disclaimers Click Here: https://bit.ly/3Tcsfuc
Share this article: 
Read More Blogs
Disclaimer :
The information on this website is provided on "AS IS" basis. Bajaj Broking (BFSL) does not warrant the accuracy of the information given herein, either expressly or impliedly, for any particular purpose and expressly disclaims any warranties of merchantability or suitability for any particular purpose. While BFSL strives to ensure accuracy, it does not guarantee the completeness, reliability, or timeliness of the information. Users are advised to independently verify details and stay updated with any changes.
The information provided on this website is for general informational purposes only and is subject to change without prior notice. BFSL shall not be responsible for any consequences arising from reliance on the information provided herein and shall not be held responsible for all or any actions that may subsequently result in any loss, damage and or liability. Interest rates, fees, and charges etc., are revised from time to time, for the latest details please refer to our Pricing page.
Neither the information, nor any opinion contained in this website constitutes a solicitation or offer by BFSL or its affiliates to buy or sell any securities, futures, options or other financial instruments or provide any investment advice or service.
BFSL is acting as distributor for non-broking products/ services such as IPO, Mutual Fund, Insurance, PMS, and NPS. These are not Exchange Traded Products. For more details on risk factors, terms and conditions please read the sales brochure carefully before investing.
Investments in the securities market are subject to market risk, read all related documents carefully before investing. This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For more disclaimer, check here : https://www.bajajbroking.in/disclaimeropens in a new tab
Our Secure Trading Platforms
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading
Calculator
Platforms
Knowledge Centre
Important Links
Explore
Corporate
Discover Bajaj Broking
Follow Us
TRENDING CALCULATORS AND STOCKS ON BAJAJ BROKING
TOOLS:
Popular Stock
- top-popular-on-bfsl
-
POPULAR STOCKS: Tata Motors Share Price Infosys Share Price IRFC Share Price SBI Card Share Price Cipla Share Price NBCC Share Price IDFC First Bank Share Price IRCTC Share Price PNB Share Price Vodafone Idea Share Price Axis Bank Share Price JSW Steel Share Price Bandhan Bank Share Price SBI Share Price Tata Steel Share Price ONGC Share Price Ashok Leyland Share Price Paytm Share Price Subex Share Price DLF Share Price Reliance Share Price HDFC Bank Share Price Suzlon Share Price IOC Share Price HUL Share Price Asian Paints Share Price Bank Of Baroda Share Price ITC Share Price TCS Share Price HFCL Share Price Icici Bank Share Price Tata Chemicals Share Price CDSI Share Price MRF Share Price Tata Power Share Price Adani Green share price BPCL Share Price Vedanta Share Price Dmart Share Price Hindalco Share Price LIC Share Price SAIL Share Price Adani Port Share Price IEX Share Price Nalco Share Price L&T Share Price Adani Power Share Price BHEL Share Price Bajaj Finance Share Price Canara Bank Share Price Indusind Bank Share Price Gail Share Price Yes Bank Share Price Wipro Share Price Happiest Minds Share Price Coal India Share Price Maruti Share Price Reliance Power Share Price
INDIAN INDICES: Nifty 50 Share Price SENSEX Share Price Nifty Next 50 Share Price BSE100 Share Price Nifty Bank Share Price LRGCAP Share Price Nifty 100 Share Price MIDCAP Share Price Nifty 200 Share Price SMLCAP Share Price Nifty 500 Share Price BSE500 Share Price Nifty Midcap 50 Share Price ALLCAP Share Price NIFTY SMLCAP 50 Share Price BSE200 Share Price India VIX Share Price BSEIPO Share Price
Stocks
Useful Links
