9 hours Ago
IDFC First Bank Q4 Results: IDFC First Bank announced its January March quarter results for fiscal 2024-25 (Q4FY25) on Saturday, April 26, reporting a drop of 58 per cent in standalone net profit at ₹ 304 crore, compared to ₹ 724.3 crore in the corresponding period last year. The private sector lender was formed by merging the banking arm of project financer Infrastructure Development Finance Company (IDFC) and Capital First.
Earlier this month, the Board of Directors of IDFC FIRST Bank, at its meeting, approved a preferential issue of equity capital (CCPS) amounting to approximately ₹ 4,876 crore to Currant Sea Investments B.V., an affiliate company of global growth investor Warburg Pincus LLC and approximately ₹ 2,624 crore to Platinum Invictus B 2025 RSC Limited, a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) managed by its Private Equities Department.
The proposed issues are subject to shareholder and regulatory approvals. Over the last six years, IDFC FIRST Bank has undergone a successful transformation from its legacy as an infrastructure-focused DFI to becoming a modern, technology-driven, pan-India, universal bank. In the process, it has made significant investments in distribution, technology, and talent to become a leading private sector bank in India.
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