DK Business Network
JSA Advocates & Solicitors has provided legal counsel to IDFC FIRST Bank on its capital raising initiative.
The capital amounted to ₹7,500 crore from Warburg Pincus and Abu Dhabi Investment Authority (ADIA).
The capital raise includes ₹4,876 crore from Currant Sea Investments B.V., a Warburg Pincus affiliate, and ₹2,624 crore from Platinum Invictus B 2025 RSC Limited, a subsidiary of ADIA.
The issued CCPS (Compulsorily Convertible Preference) shares priced at ₹60 each, would lead to post-conversion holdings of approximately 9.48% and 5.1% for the respective investors, contingent upon regulatory and shareholder endorsements.
IDFC FIRST Bank, recognized for its ethical and digital banking approach, has rapidly expanded across India, operating 971 branches and offering a full spectrum of financial services, ranging from retail banking to NRI and private banking solutions.
The transaction team included-
Mr. Vikram Raghani (Lead Partner), Mr Bir Bahadur Singh Sachar (Partner), and Mr. Sushim Aryan (Principal Associate), supported by Ms. Tavishi Chandra, Mr. Parth Mehta, Ms. Samika Pachouly, and Company Secretary Ms. Niki Shah.
The Banking team featured-
Mr. Anish Mashruwala (Partner), Mr. Pratish Kumar (Partner), Mr. Karan Abichandani (Principal Associate), along with associates Mr. Anmol Narang, Mr. Madhur Bhatt, and Ms. Arpita Mittal.
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