The Board of Directors of IDFC FIRST Bank, at its meeting held today, approved a preferential issue of equity capital (CCPS) amounting to approximately Rs 4,876 crore to Currant Sea Investments B.V., an affiliate company of global growth investor Warburg Pincus LLC and approximately Rs 2,624 crore to Platinum Invictus B 2025 RSC, 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.

The Bank has firmly moved into profits and is now at a pivotal stage, where our income growth is expected to consistently exceed OPEX growth, leading to improved operating leverage. We expect many businesses which are in the investment stage to turn profitable with scale.

It is great to have Warburg Pincus back and to welcome a wholly owned subsidiary of ADIA as our shareholder. We thank them both for believing in us and our future growth plans and for investing in us even under volatile global situations. We believe only by building a strong, respected franchise loved by customers and supported by strong unit economics, we will deliver sustainable long-term returns to our stakeholders.”