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

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.

Also Read

Weekly Nifty, Bank Nifty Outlook: Index in time-correction, avoid aggressive short bets

Sensex, Nifty rise in early trade on positive US cues; Power Grid, Bajaj Finance, Tata Steel among top gainers

Nifty on cusp of major move, setting up for upside this week; derivatives expiry to accelerate unwinding

Rupee rises 9 paise to 82.31 against US dollar in early trade