IDFC FIRST Bank converts CCPS to equity for Currant Sea Investments

IDFC FIRST Bank's board of directors, at a meeting on October 8, 2025, approved the allotment of 812,694,722 equity shares of face value ₹10 each to Currant Sea Investments B.V. This conversion follows an investment agreement dated April 17, 2025, and the fulfillment of specific conditions precedent.

The conversion stems from 812,694,722 CCPS, initially allotted to Currant Sea Investments B.V. via a preferential allotment at a price of ₹60 per CCPS, totaling ₹4,876 crore. This transaction increases the bank's paid-up equity share capital to ₹81,51,95,66,830, comprising 8,151,956,683 equity shares of ₹10 each.

Additionally, the board approved a dividend payment on the CCPS at an 8% rate, amounting to ₹72,67,49,472, calculated proportionately for the period from allotment to conversion date. Currant Sea Investments B.V. will hold 9.97% of the post-conversion equity capital.