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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 Rs 2,196 crore.
Equity shares of face value of Rs 10 each fully paid-up, on a preferential basis will be issued IDFC Financial Holding Company Limited at a price of Rs 58.18 per unit, including premium of Rs 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.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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