IDFC First Bank stock in focus today on fundraising update 

Shares of IDFC First Bank are in news today after the private sector lender said its board approved the allotment of preference shares. The issue comprises allotment of Rs 43.72 crore compulsorily convertible cumulative preference shares to Platinum Invictus B, at an issue price of Rs 60 per share. The bank is expected to raise approximately Rs 2,623 crore via the allotment of shares.

IDFC First Bank rose 2.07% to Rs 71.33 on Tuesday against the previous close of Rs 69.88 on BSE. Total 6.95 lakh shares of the firm changed hands amounting to a turnover of Rs 4.91 crore. Market cap of the bank climbed to Rs 52,332 crore on BSE. 

“We wish to inform that the duly authorised Committee of the Board of Directors of the Bank (“Board Committee”) has today, i.e., on August 19, 2025, approved the preferential allotment of 43,71,85,666 (Forty Three Crore Seventy One Lakh Eighty Five Thousand Six Hundred Sixty Six) CCPS of face value of ? 10/- each fully paid-up, at an issue price of Rs 60/- per CCPS to Platinum Invictus B 2025 RSC Limited, aggregating to Rs 2,623 crore (rounded-off),” said the lender.  

The bank said it has received in-principle approvals from both BSE Limited and National Stock Exchange of India Limited on May 15, 2025 for the aforesaid preferential issue.