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IDFC First Bank rises on getting nod to raise Rs 3,000 crore

IDFC First Bank is currently trading at Rs. 58.70, up by 0.60 points or 1.03% from its previous closing of Rs. 58.10 on the BSE.

The scrip opened at Rs. 58.70 and has touched a high and low of Rs. 59.25 and Rs. 58.30 respectively.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 59.25 on 19-Feb-2021 and a 52 week low of Rs. 17.75 on 24-Mar-2020.

Last one week high and low of the scrip stood at Rs. 59.25 and Rs. 52.05 respectively. The current market cap of the company is Rs. 32963.28 crore.

The promoters holding in the company stood at 40.00%, while Institutions and Non-Institutions held 27.51% and 32.49% respectively.

IDFC First Bank’s board has approved raising of funds up to Rs 3,000 crore by way of issuance of securities, through one or more permissible mode(s), including but not limited to a private placement, Qualified Institutions Placement, Follow-on Public Offering or a combination thereof. The Board at its meeting held on February 18, 2021 noted the significant opportunities for growth of the Bank based on the strong capabilities the Bank has built and the strong outlook for economic recovery in India.

IDFC First Bank provides a range of financial solutions to individuals, small businesses and corporates.

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