The decision was taken in a meeting held today.
The bank had received in-principle approvals from both BSE and NSE on May 15.
In April this year, IDFC First Bank had approved a preferential allotment of over 81.26 crore, which amounts to a 10% stake in the private lender. Through the allotment, the bank plans to fund the next leg of growth.
Shares of IDFC First Bank were trading lower today, taking cues from the overall subdued sentiments amid the US’ 25% tariff imposition set to come into effect from August 7. At 2:09 PM, the stock was seen trading 1.6% lower at Rs 67.64 apiece on the BSE.
IDFC First Bank reported a 32% YoY decline in its profit after tax (PAT) at Rs 463 crore in the first quarter of the financial year 2026, while the net interest income (NII) witnessed a growth of 5.1% YoY to Rs 4,933 crore in the same period. The NII is comparable to Rs 4,695 crore in the first quarter of the last financial year. However, on a quarter-on-quarter basis, the PAT grew 52.1%.The bank’s Net Interest Margin (NIM) on AUM dropped by 24 basis points quarter-on-quarter, falling from 5.95% in Q4 FY25 to 5.71% in Q1 FY26. This decline was mainly due to the impact of repo rate changes, a shift in the asset mix, including a sharp fall in the microfinance segment, and lower investment yields.Also read: Adani Power announces 5:1 stock split; Q1 profit falls 15.5% YoYOperating profit (excluding trading gains) declined by 6.2% YoY, from Rs 1,858 crore in Q1 FY25 to Rs 1,744 crore in Q1 FY26. However, on a sequential basis, it rose by 7.8%.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
