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An announcement from IDFC First Bank Ltd. ( (IN:IDFCFIRSTB) ) is now available.
IDFC First Bank Limited announced that it has fully utilized the proceeds from its preferential issue of Compulsorily Convertible Cumulative Preference Shares to Currant Sea Investments B.V. and Platinum Invictus B 2025 RSC Limited. The funds, amounting to ₹48,76,16,83,320, were allocated to meet the bank’s working capital requirements, support future growth plans, and prepare for potential macro-economic uncertainties. The bank confirmed there were no deviations in the use of funds, aligning with the stated objectives and maintaining transparency with stakeholders.
More about IDFC First Bank Ltd.
IDFC First Bank Limited operates in the banking industry, providing a range of financial services including retail loans and deposit products. The bank focuses on building a robust business model centered on retail banking services.
Average Trading Volume: 1,236,098
Technical Sentiment Signal: Strong Buy
Current Market Cap: 527B INR
For a thorough assessment of IDFCFIRSTB stock, go to TipRanks’ Stock Analysis page.