India, April 17 -- IDFC FIRST Bank's Board of Directors, in its meeting held today, approved a preferential issue of equity capital totaling approximately ?7,500 crore. The capital raise includes ?4,876 crore from Currant Sea Investments B.V., an affiliate of global growth investor Warburg Pincus LLC, and ?2,624 crore from Platinum Invictus B 2025 RSC Limited, a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), managed by its Private Equities Department. The proposed transactions are subject to shareholder and regulatory approvals.
The move comes as IDFC FIRST Bank continues its transformation journey from an infrastructure-focused development finance institution (DFI) to a modern, tech-driven, pan-India universal bank....