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The Mumbai-based lender will issue 1.25 billion preference shares to the investors
Published Thu, Apr 17, 2025 · 01:12 PM
[MUMBAI] IDFC First Bank has approved a plan to raise 75 billion rupees (S$1.2 billion) from Warburg Pincus and Abu Dhabi Investment Authority (Adia).
The US-based private equity firm will invest US$570 million through its affiliate company and Adia will invest US$307 million through its subsidiary, the Indian bank said on Thursday (Apr 17). The Mumbai-based lender will issue 1.25 billion preference shares to the investors.
“We believe the Indian banking sector presents an exciting opportunity and is poised for long-term growth,” said Vishal Mahadevia, head of Asia Private Equity at Warburg Pincus, which is reinvesting in the bank.
Abu Dhabi’s wealth fund has come in as a new investor.
IDFC First Bank is the country’s ninth-largest private bank. It said the fundraising will improve its capital adequacy ratio to 18.9 per cent from 16.1 per cent in December 2024. BLOOMBERG
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