New Delhi, April 18 -- Private equity major Warburg Pincus and sovereign fund Abu Dhabi Investment Authority (ADIA) have agreed to invest Rs.7,000 crore in IDFC First Bank for close to 15% stake, delivering a capital boost for the private lender accelerating its credit cards and wealth management businesses.

The bank will issue compulsorily convertible preference shares (CCPS) worth Rs.4,876 crore to a Warburg Pincus affiliate, and shares worth Rs.2,624 crore at Rs.60 each to an ADIA subsidiary. While the Warburg affiliate will hold 9.48% stake, the ADIA unit will hold 5.10%.

IDFC First Bank was formed in December 2018 with the merger of non-bank lender Capital First with IDFC Bank, then a subsidiary of IDFC Ltd. The latest investment m...