IDFC First Bank's Board Approves ₹75-Billion Investment From Warburg, ADIA 

The board of IDFC First Bank Ltd. on Thursday approved raising ₹75 billion from two separate investors by issuing preference shares, the bank said in an exchange filing.

An affiliate of Warburg Pincus LLC will invest around ₹48.76 billion and hold 9.48% in the private sector bank. Also, a wholly -wned unit of the Abu Dhabi Investment Authority will invest about ₹26.24 billion for a 5.10% stake.

As of March 31, the bank's loans rose 20.3% on year to ₹2.42 trillion, while total business stood at ₹4.84 trillion, up 22.7%, according to provisional data.