Platinum Invictus converts preference shares, increases stake in IDFC FIRST Bank

Platinum Invictus B 2025 RSC Limited, the acquirer, announced the acquisition of 43,71,85,666 equity shares of IDFC FIRST Bank Limited. This acquisition took place on October 27, 2025, through the conversion of compulsorily convertible cumulative preference shares previously held by Platinum Invictus. This transaction results from a preferential allotment and is in accordance with an investment agreement dated April 17, 2025.

Before this acquisition, Platinum Invictus held 43,71,85,666 compulsorily convertible cumulative preference shares, representing 5.09% of the diluted share/voting capital of IDFC FIRST Bank. Following the conversion, Platinum Invictus now directly holds 43,71,85,666 shares carrying voting rights, which constitutes 5.09% of the bank's equity share capital and 5.09% of the total diluted share/voting capital.

The total equity share capital of IDFC FIRST Bank before the acquisition was INR 81,51,95,66,830, comprising 8,15,19,56,683 equity shares. After the acquisition, the equity share capital increased to INR 85,89,14,23,490, representing 8,58,91,42,349 equity shares. The total diluted share/voting capital post-acquisition stands at INR 92,55,29,40,030, consisting of 9,25,52,94,003 equity shares.