IDFC First increases Rp30bn share sale

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By Jonathan Breen
01 Apr 2021

IDFC First Bank raised Rp30bn ($409m) this week from a larger than expected sale of primary shares.

The private sector lender turned to investors on Tuesday, looking to net at least Rp20bn from a qualified institutional placement (QIP).

IDFC First’s capital raising committee, a sub-committee of the board of directors, gave the final go ahead for the fundraising after Indian markets closed on Tuesday.

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