V Vaidyanathan says the bank's net interest margins have likely bottomed out and will improve as CASA strengthens and cost of funds continues to fall
Brokerages trim FY26 estimates for 130 of 192 BSE 200 companies, with a median EPS downgrade of 3.5%
The bank expects its microfinance stress to ease in the next couple of quarters, after which it plans to grow its book in a measured way, while also putting a proposal to vote at the upcoming AGM
Q1 FY26 company results: Balkrishna Industries, Lodha Developers, Whirlpool, ZEN Technologies, and SBFC Finance are also to release their April-June quarter earnings reports today
Here is the complete list of stocks that will trade ex-dividend on July 11, along with their key details
IDFC First Bank chief says not insuring the microfinance portfolio earlier worsened FY25 losses but confirms that 66 per cent of the book is now covered under CGFMU
Analysts on private banks: Overall, asset quality outlook is stable to positive, except for the unsecured retail loans and MFI segment; but it appears that stress in unsecured segment has peaked out.
Shareholders approve fund infusion by Warburg and ADIA but reject proposal allowing Currant Sea Investments to nominate a non-executive director to the bank's board
A special resolution to allow Warburg Pincus affiliate Currant Sea Investments to nominate a non-executive director failed to get the required 75% shareholder approval
The special resolution received 64.1 per cent of the votes, falling short of the required 75 per cent threshold for it to pass
IDFC First Bank on Monday said its shareholders have rejected the proposal to allow global private equity firm Warburg Pincus' arm to nominate a non-executive director on the bank board. Last month, IDFC First Bank board had approved a preferential equity issue of about Rs 4,876 crore to Currant Sea Investments BV, an affiliate company of investor Warburg Pincus LLC. Following that, the bank sought shareholders' nod through postal ballot to amend the Articles of Association of the bank. It sought their approval to provide a right to Currant Sea Investments BV(or any of its assignees) to nominate one non-retiring non-executive director by way of a special resolution. As per the results of the postal ballot disclosed to the stock exchanges on Monday, only 64.10 per cent of the votes were in favour of the resolution, while 35.90 per cent were against it. "... The special resolution... has not been passed due to lack of requisite majority," IDFC First Bank said in a BSE filing. Under
Private equity major Warburg Pincus has sought fair trade regulator CCI's approval to acquire 10 per cent stake in private sector lender IDFC First Bank. US-based Warburg Pincus through its arm Currant Sea Investments BV will acquire the stake in IDFC First Bank. "The acquirer (Currant Sea Investments B V) proposes to acquire up to 9.99 per cent of the paid up share capital (on a fully diluted basis) of the target (IDFC First Bank) by way of subscription to 81,26,94,722 compulsorily convertible cumulative preference shares," a notice filed with the CCI said on April 28. The deal has been notifiable to the Competition Commission of India under Section 5(a)(i)(A) of the Competition Act, 2002, it added. IDFC First Bank is engaged in the business of providing banking services as well as other financial solutions. The notice also said that Platinum Invictus B 2025 RSC Ltd, an arm of Abu-Dhabi Investment Authority (ADIA) plans to subscribe to 43.72 crore preference shares in IDFC First
Provisions against microfinance segment have peaked in Q4FY25
Fresh slippages during the quarter was Rs 2,175 crore including Rs 572 crore from the micro loan book, as compared to Rs 4195 crore and Rs 437 crore
Fundraise 4th-largest by an Indian private-sector lender
The entities will invest the funds for a combined 15 per cent stake in the mid-sized private lender which has 971 branches
The bank's board approved preferential issue of equity capital (CCPS) amounting to ₹7,500 crore to Currant Sea Investments B.V. and Platinum Invictus B 2025 RSC.
A total of 195 stocks hit fresh 52-week lows in intra-day trades on the BSE; off which among the top 500 shares Delhivery and Emcure Pharmaceuticals hit new all-time lows on Wednesday.
The company's overall provisions, excluding tax doubled to Rs 1,338 crore from Rs 655 crore in the same quarter a year ago