IDFC First Bank trades higher on getting nod to raise fund through bonds
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
IDFC First Bank is currently trading at Rs. 45.35, up by 0.70 points or 1.57% from its previous closing of Rs. 44.65 on the BSE.
The scrip opened at Rs. 44.20 and has touched a high and low of Rs. 45.70 and Rs. 44.00 respectively. So far 2274782 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 69.30 on 04-Mar-2021 and a 52 week low of Rs. 40.75 on 23-Aug-2021.
Last one week high and low of the scrip stood at Rs. 49.15 and Rs. 44.00 respectively. The current market cap of the company is Rs. 28092.89 crore.
The promoters holding in the company stood at 36.51%, while Institutions and Non-Institutions held 29.35% and 34.15% respectively.
IDFC First Bank has received approval to raise fund through private placement of upto 2,000 Unsecured, Subordinated, Rated, Listed, Non-Convertible, Fully Paid-Up, Taxable, Redeemable Basel III Compliant Tier 2 Bonds denominated in Rupees of a face value of Rs 1 crore each, having an aggregate nominal value of upto Rs 2,000 crore, in one or more tranches.
Further, within the aforesaid limit of Rs. 2,000 crore, the Committee has approved the first tranche Placement Memorandum for Private Placement of upto 1,500 bonds with issue size of Rs 1,000 crore and a Green Shoe Option to retain oversubscription up to Rs 500 crore, having an aggregate nominal value of upto Rs 1,500 crore.
IDFC First Bank provides a range of financial solutions to individuals, small businesses and corporates.
