IDFC FIRST Bank to consider raising funds amid executive loss

IDFC FIRST Bank [BSE: IDFCFIRSTB] has scheduled a board meeting for April 17, 2025, to consider and potentially approve a proposal for raising funds through the issuance of eligible securities on a preferential basis. This decision aligns with regulations set forth by the Companies Act, 2013, and the Securities and Exchange Board of India (SEBI). The announcement was made under Regulation 29(1)(d) of the SEBI Listing Regulations, 2015. Concurrently, the bank reported the death of Mr. Chinmay Dhoble, Head of Retail Liabilities and Branch Banking. He passed away on April 13, 2025. The bank expressed its condolences and affirmed that it will provide support to his family. Trading of IDFC FIRST Bank securities remains restricted for designated persons until April 28, 2025.