India: IDFC FIRST Bank Limited Proposes Preferential Allotment to its Promoter

Published on Feb 27, 2023

AZB & Partners is advising IDFC FIRST Bank Limited (“Bank”) on the proposed preferential allotment to its promoter - IDFC Financial Holding Company Limited (“IFHCL”) to raise ~ INR 2,196 crore, post which the stake held by IFHCL (which is a wholly-owned subsidiary of IDFC Limited) in the Bank will be 39.99%.

Our transaction team comprised of our Senior Partner Ashwath Rau, Partners Vipul Jain, Aditya Alok, Senior Associates Saras Muzumdar, Shivani Goel and Associate Mohammad Zaid.

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