Additional capital will position us for growth

This is truly a big deal for IDFC First Bank.

- V Vaidyanathan, managing director and CEO of IDFC First Bank

Marquee investors — Currant Sea and Platinum Invictus, affiliates of Warburg Pincus and ADIA Private Equity, respectively — are set to pick up stakes in IDFC First Bank for a combined ₹7,500 crore.

V Vaidyanathan, managing director and CEO of IDFC First Bank, tells Shobhana Subramanian that the additional capital will help position the lender for growth. Excerpts:

Yes, it is an important day for the bank. Both investors are iconic names and invest only in companies that have good governance, and are professionals. They are focused on the long-term. When we get this kind of capital, I can focus on my work in the bank and value will get created. We are building foundations to be part of the big league, and this capital can set us on this path.

How did the deal come about? Is it because Warburg made a lot of money the last time, so the comfort level exists?