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IDFC First Bank's equity dilution habit hurts shareholders
Mint Bangalore
|August 22, 2025
Pressure point
Id habits die hard. On Tuesday, IDFC First Bank Ltd completed yet another round of fundraising worth ₹2,623 crore, leading to more equity dilution and value erosion.
It allotted 437 million compulsorily convertible cumulative preference shares (CCPS) to Abu Dhabi Investment Authority's subsidiary. In August, it allotted 812 million CCPS to a Warburg Pincus affiliate.
As CCPS costing ₹60 apiece will be converted, the number of equity shares after the allotments will rise by 17% to 8.6 billion. The impact on book value (BV) will be minuscule as BV per share will rise to ₹53.6 from ₹52.8 as of June 2025.
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