IDFC First Bank fixes floor price for Rs 3,000 crore QIP at Rs 60.34/share

By: |
March 30, 2021 9:40 PM

The Capital Raising Committee of the Board also decided that the bank may at its discretion offer a discount of not more than 5 per cent on the floor price for the issue

IDFC First Bank fixes floor price for Rs 3,000 crore QIP at Rs 60.34/share(File image)

Private sector IDFC First Bank on Tuesday said it has fixed the floor price at Rs 60.34 for the Rs 3,000 crore qualified institutional placement (QIP) issue.

The Capital Raising Committee of the Board also decided that the bank may at its discretion offer a discount of not more than 5 per cent on the floor price for the issue, IDFC First Bank said in a regulatory filing.

Further, it said, a meeting of the Capital Raising Committee of the bank will be held on April 6 to consider and determine the issue price of shares to the institutional investor including a discount, if any.

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