IDFC FIRST Bank Limited has received strong shareholder approval for its proposed ₹7,500 crore fund raise, reflecting robust investor confidence and strategic growth plans. On May 20, 2025, the Bank issued an update following its recent postal ballot, where shareholders voted overwhelmingly in favour of the fund raise resolution, with 99.18% overall support. Public institutions demonstrated even stronger backing, voting 99.38% in favour, while public non-institutions supported it with 98.71% votes.

In addition to the fund raise, the shareholders approved the reclassification of the Bank’s authorised share capital with a similarly high approval rate of 99.38%. Public institutions unanimously supported the reclassification with 100% votes in favour, while public non-institutions voted 98.72% in favour. This reclassification is aligned with the fund raise and is essential to accommodate the issuance of new shares.

The Bank expressed gratitude to its shareholders for their overwhelming support, underscoring the strong faith in IDFC FIRST Bank’s growth trajectory and strategic initiatives.

However, the resolution regarding the right to nominate a Director in the Articles of Association did not receive the requisite majority of votes. The Bank remains confident of resolving this matter through constructive dialogue and is proactively pursuing the remaining regulatory approvals in parallel with its fund raise and capital restructuring plans.

Satish Gaikwad, General Counsel and Company Secretary of IDFC FIRST Bank, conveyed these updates to the National Stock Exchange and Bombay Stock Exchange, ensuring transparency and regulatory compliance.

This decisive shareholder backing enables IDFC FIRST Bank to bolster its capital base, enhance lending capacity, and accelerate growth initiatives, further strengthening its position in India’s competitive banking sector.

For further details, investors and stakeholders are encouraged to visit the Bank’s official website at www.idfcfirstbank.com or contact the corporate office at the Bandra-Kurla Complex, Mumbai.

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