Banking & FinanceFinanceInFocusStock Market

IDFC First Bank’s Board Approves The Issue Price at Rs 57.35 Per Equity Share For Their Capital Raising

Sharing is caring!

 In continuation of our letter no. IDFCFIRSTBANK/SD/331/2020-21 dated March 30, 2021, wherein the intimation about the meeting of the Capital Raising Committee of the Board of Directors (“Capital Raising Committee”) for the Issue was given, we wish to hereby further update that the Capital Raising Committee at its meeting held today, i.e. April 06, 2021 has, inter alia, passed the following resolutions:

  1. Approved the closure of the Issue today (i.e. April 06, 2021);
  2. Determined and approved the Issue price of ₹ 57.35 per Equity Share (including a premium of ₹ 47.35 per Equity Share), which is at a discount of ₹ 2.99 per Equity Share to the floor price of ₹ 60.34 per Equity Share, determined as per the formula prescribed under Regulation 176(1) of the SEBI ICDR Regulations, for the Equity Shares to be allotted to the eligible qualified institutional buyers (“QIBs”) in the Issue;
  3. Approved and finalized the confirmation of allocation note (“CAN”) to be sent to the eligible QIBs, intimating them of allocation of Equity Shares pursuant to the Issue; and
  4. Approved and adopted the placement document dated April 06, 2021.

The Issue was opened on March 30, 2021 and the same was intimated to you vide our letter dated March 30, 2021.

We request you to kindly take the above on record pursuant to compliance under the applicable regulations of the Securities and Exchange Board of India (Listing Obligations Disclosure Requirements) Regulations, 2015, as amended.

SMEStreet Edit Desk

SMEStreet Edit Desk is a small group of excited and motivated journalists and editors who are committed to building MSME ecosystem through valuable information and knowledge spread.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button