Current Affairs - Banking - Discussion

The Reserve Bank of India has granted approval to Warburg Pincus, a global private equity firm, to acquire up to a 9.99% stake in IDFC First Bank. This strategic investment, amounting to ₹4,876 crore (approximately $587 million), will be made via Warburg’s affiliate, Currant Sea Investments B.V. The transaction involves the purchase of about 81.27 crore Compulsorily Convertible Preference Shares (CCPS) at a price of ₹60 each. This move is expected to strengthen the capital base of IDFC First Bank and reflects increasing investor confidence in India's private banking sector.