India: IDFC First Bank to raise $266.6m via fresh equity

India: IDFC First Bank to raise $266.6m via fresh equity

IDFC FIRST Bank on Friday disclosed plans to raise 2,000 crore via a preferential issue to ICICI Prudential Life Insurance Co., HDFC Life Insurance Co., Bajaj Allianz Life Insurance, Dayside Investment (Warburg Pincus group), and the bank’s promoter, IDFC Ltd, among others.