Kindly refer the enclosed attachment.
Awaiting price reaction for this filing.
IDFC FIRST Bank has informed exchanges that shareholders approved a ₹7,500 crore fund raise proposal through postal ballot with 99.18% votes in favour. Public institutions voted 99.38% in favour and public non-institutions voted 98.71% in favour. A related reclassification of Authorised Share Capital was also passed with 99.38% support. However, the resolution giving certain shareholders the right to nominate a Director in the Articles of Association did not get the requisite majority; the bank said it is confident of working through the matter and will continue seeking other regulatory approvals.
Positive for shareholders – the strong mandate on the ₹7,500 crore capital raise allows the bank to strengthen its capital base and support growth, though the exact mode and pricing of the raise is yet to be disclosed. The failed director-nomination resolution is a minor governance hiccup but the bank has indicated it will pursue alternate routes, limiting the negative impact.