Sensex Ends 435 Points Lower; Automobile And Banking Stocks Witness Selling

Fundraising has been approved 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, subject to shareholders' approval, IDFC First Bank said in a regulatory filing.

The lender said there are significant opportunities for growth based on the strong capabilities it has built as well as the strong outlook for economic recovery in India.

Last year in June, the bank had raised Rs 20 billion through an institutional placement joining its larger rivals in tapping the markets.

IDFC First Bank was created when IDFC Bank merged with shadow lender Capital First in 2018.

IDFC First Bank share price ended the day up by 7.8%.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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