Description

IDFC First Bank Limited lists 81,26,94,722 equity shares at Rs. 60/- per share issued on preferential basis pursuant to conversion of CCPS, with lock-in until July 31, 2026.

Summary

IDFC First Bank Limited (Scrip Code: 539437) has listed 81,26,94,722 new equity shares of Rs. 10/- each issued at a premium of Rs. 50/- to non-promoters on a preferential basis. These shares were issued pursuant to conversion of Compulsory Convertible Preference Shares (CCPS) and are permitted to trade on BSE from November 19, 2025. All shares are subject to a lock-in period until July 31, 2026.

Key Points

  • Total new shares listed: 81,26,94,722 equity shares
  • Face value: Rs. 10/- per share
  • Issue price: Rs. 60/- per share (Rs. 50/- premium)
  • Issued to: Non-promoters on preferential basis
  • Purpose: Conversion of Compulsory Convertible Preference Shares (CCPS)
  • Distinctive numbers: 9985700310 to 10798395031
  • ISIN: INE092T01019
  • Ranking: Pari-passu with existing equity shares
  • Scrip Code: 539437

Regulatory Changes

No regulatory changes announced. This is a standard listing notification following preferential allotment regulations.

Compliance Requirements

  • Trading members are informed of the new securities available for trading
  • All 81,26,94,722 shares are subject to mandatory lock-in until July 31, 2026
  • Shares cannot be transferred or sold before the lock-in expiry date
  • The shares will rank pari-passu with existing equity shares for all corporate actions

Important Dates

  • Date of Allotment: October 8, 2025
  • Trading Commencement: November 19, 2025 (Wednesday)
  • Lock-in Expiry: July 31, 2026
  • Notice Date: November 18, 2025

Impact Assessment

Market Impact: The listing of over 81 crore new equity shares represents significant equity dilution. However, the 19-month lock-in period until July 2026 prevents immediate selling pressure. The shares being issued to non-promoters at Rs. 60/- (representing the CCPS conversion price) indicates a structured capital raising exercise.

Operational Impact: For IDFC First Bank, this conversion strengthens the equity capital base by converting preference shares to equity. For trading members, this adds significant floating stock once the lock-in expires. The pari-passu ranking ensures equal treatment with existing shareholders for dividends and corporate actions.

Investor Impact: Existing shareholders should note the dilution effect on earnings per share. The preferential issue to non-promoters at a predetermined conversion price may differ from current market prices, affecting shareholder value depending on market conditions.

Impact Justification

Large preferential allotment (81.27 crore shares) to non-promoters with 19-month lock-in period represents significant equity dilution but follows regulatory conversion process