IDFC First Bank Ltd allots 86,24,40,704 shares

The duly authorized committee of the Board of Directors of IDFC First Bank Ltd at its meeting held today, i.e. June 12, 2020, has approved the allotment of 86,24,40,704 (Eighty-Six Crore Twenty-Four Lakh Forty Thousand Seven Hundred and Four) Equity Shares of face value of Rs.10/- (Rupees Ten only) each fully paid up, at a price of Rs. 23.19/- per equity share (including premium of Rs. 13.19/- per share), to the following allottees on Preferential Basis:

IDFC Financial Holding Company Limited Promoter - 34,49,76,282
ICICI Prudential Life Insurance Company Limited Non-Promoter - 25,87,32,212
Dayside Investment Ltd Non-Promoter - 8,62,44,070
HDFC Life Insurance Company Limited Non-Promoter - 8,62,44,070
Bajaj Allianz Life Insurance Limited Non-Promoter - 8,62,44,070

With the allotment of the above shares, the equity base of the Bank stands increased from present level of 4,80,99,03,016 (Nos.) to 5,67,23,43,720 (Nos.) equity shares of Rs. 10/- each.

Shares of IDFC First Bank Ltd was last trading in BSE at Rs.25.75 as compared to the previous close of Rs. 24.85. The total number of shares traded during the day was 5340230 in over 48589 trades.

The stock hit an intraday high of Rs. 26.15 and intraday low of 23. The net turnover during the day was Rs. 132884852.

Source : Equity Bulls

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