The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Platinum Invictus B 2025 RSC Ltd
IDFCFIRSTB · price
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On the reaction day the stock moved 1.1 pts less than Nifty Midcap 150 and 1.5 pts less than its Private Sector Bank peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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IDFC First Bank has allotted 43.72 crore (43,71,85,666) 8% compulsorily convertible cumulative preference shares (CCPS) to Platinum Invictus B 2025 RSC Ltd, an Abu Dhabi-based entity, on a preferential basis on August 19, 2025. Each CCPS has a face value of INR 10 and was issued at INR 60 (including a premium of INR 50). Each CCPS will convert into 1 equity share, either at the acquirer's option or automatically within 15 business days once the 45-day VWAP of IDFC First Bank equity shares reaches the issue price, and no later than 5 business days before expiry of 18 months. Before this allotment, the acquirer held 0% in the bank; after conversion of these CCPS, its stake would represent 5.09% of the bank's diluted share capital. The acquirer is not part of the promoter group. Post-allotment, the bank's total diluted equity share capital rises to about 858.65 crore shares.
This is a significant capital infusion that strengthens IDFC First Bank's equity base, but it also introduces a new 5%+ holder who could eventually seek board influence or exit. Existing shareholders may see slight dilution upon conversion, though the long conversion window and price-linked trigger reduce immediate dilution risk.