IDFC First Bank plans to issue shares to local and overseas investors in the proposed preferential allotment and if there is any shortfall in capital raising IDFC First Bank Ltd.
is looking to raise Rs. 1,800-2,000 crore via a preferential allotment of shares shortly, said a person directly aware of the bank’s plans. “The capital, which is likely to be raised this quarter, will be used for strengthening the bank’s capital buffers further and for growth of the bank," said this person, who declined to be named.
The bank plans to issue shares to local and overseas investors in the proposed preferential allotment and if there is any shortfall in capital raising, the bank may consider a rights issue too to raise money through existing