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<keyword id="20024191" type="General" weightage="20" keywordseo="Reliance-Power" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Power" meta.hostid="261" meta.entityid="Reliance Power">Reliance Power</keyword> said it has received <keyword id="21075266" type="General" weightage="20" keywordseo="shareholders-approval" source="keywords">shareholders' approval</keyword> to raise <keyword id="23666886" type="General" weightage="20" keywordseo="Rs-1524-60-crore" source="keywords">Rs 1,524.60 crore</keyword> through issuance of <keyword id="20770487" type="General" weightage="20" keywordseo="preferential-shares" source="keywords">preferential shares</keyword>. A resolution through a postal ballot notice has been passed with requisite majority, the company said in a late night stock exchange filing on Wednesday. According to the postal ballot notice, the company will raise up to Rs 1,524.60 crore by preferential issue of up to 46.20 crore <keyword id="20035340" type="General" weightage="20" keywordseo="equity-shares" source="keywords">equity shares</keyword> and/or warrants convertible into equivalent number of equity shares at a price of Rs 33 per apiece. On September 23, the board of Reliance Power Ltd had approved raising Rs 1,524.60 crore through issue of preferential shares, wherein promoters will infuse Rs 600 crore into the company to advance its business. <div type="Article" hostid="261" msid="79183505" title="Happy Dhanteras 2024 messages and wishes" mstype="2" mssubtype="0"></div> Reliance Infrastructure, the promoter of the company, will enhance its equity stake by over Rs 600 crore. The other investors who will participate in the preferential issue include Authum Investment and Infrastructure Ltd and Sanatan Financial Advisory Services. The fresh fund would be utilised for expansion of business operations directly and/or through investment in subsidiaries and joint ventures, debt reduction and for general corporate purposes, the company said. The preferential issue will enhance the company's net worth from about Rs 11,155 crore to over Rs 12,680 crore, it said. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/afcons-infrastructure-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/114490954.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/afcons-infrastructure-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/114490954.cms" target="_blank">Afcons Infrastructure IPO – GMP, risk factors and all you need to know</a><a href="https://www.businessinsider.in/tech/news/upi-refund-scam-to-digital-arrest-scam-here-are-most-common-online-scams-in-india/articleshow/114428011.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/upi-refund-scam-to-digital-arrest-scam-here-are-most-common-online-scams-in-india/articleshow/114428011.cms" target="_blank">UPI refund to digital arrest scam, here are some online scams you need to be aware of</a><a href="https://www.businessinsider.in/stock-market/news/waaree-energies-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/114508632.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/waaree-energies-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/114508632.cms" target="_blank">Waaree Energies IPO allotment – How to check allotment, IPO GMP, listing date and more</a>

Reliance Power gets shareholders' nod to raise ₹1,525 crore via preferential shares

New Delhi [India], July 19 (ANI): <keyword id="19899016" type="General" weightage="100" keywordseo="Vodafone-Idea" source="keywords" meta.keywordsubtype="org" meta.entityname="Vodafone Idea" meta.hostid="261" meta.entityid="Vodafone Idea">Vodafone Idea</keyword> approved the allotment of more than <keyword id="22467816" type="General" weightage="20" keywordseo="40-crore-shares" source="Orion">40 crore shares</keyword> on a preferential basis to <keyword id="6354716" type="General" weightage="20" keywordseo="Nokia" source="Orion">Nokia</keyword> Solutions and Networks India and to <keyword id="330957" type="General" weightage="20" keywordseo="Ericsson-India" source="Orion">Ericsson India</keyword>, the company informed the exchange in a filing. The company stated that this preferential allotment is in accordance with SEBI's regulations which totals around <keyword id="22467815" type="General" weightage="20" keywordseo="Rs-615-crore" source="keywords">Rs 615 crore</keyword> and represents a strategic move to enhance the company's capital base. According to the statement by the company, the breakdown includes around 25 crore <keyword id="20035340" type="General" weightage="20" keywordseo="equity-shares" source="keywords">equity shares</keyword> to Nokia Solutions and Networks India Pvt. and over 15 crore equity shares to Ericsson India Pvt. The issue price per equity share was set at Rs. 14.80, including a premium of Rs. 4.80 per share at a face value of Rs 10 per share. "The Capital Raising Committee of the Board ("Capital Raising Committee") has, at its meeting, approved the second tranche of allotment of 41,52,02,701 Equity Shares of face value of Rs. 10/- each at an issue price of Rs. 14.80 per equity share (including a premium of Rs. 4.80 per equity share), to Nokia Solutions and Networks India Private Limited (25,67,56,756 Equity Shares) and Ericsson India Private Limited (15,84,45,945 Equity Shares), aggregating to Rs. 614.5 crores, on a preferential basis" said the company. Recently, Vodafone Idea (<keyword id="634808" type="General" weightage="20" keywordseo="VIL" source="Orion">VIL</keyword>) added 0.8 million mobile broadband (MBB) subscribers in May, but the company continued to see declines in both overall and active subscriber bases, losing 0.9 million and 1.7 million subscribers, respectively. The shares of Vodafone Idea closed at Rs 16.32 after a decline of more than 2 per cent on Thursday.

Vodafone Idea to raise Rs 615 crore through preferential shares allotment to Nokia and Ericsson India

New Delhi, Feb 24 () Aditya Birla Capital on Monday said it has received a foreign investment of Rs 1,000 crore from Jomei Investments Ltd in lieu of preferential allotment of shares. The Department of Economic Affairs (DEA), vide its letter dated February 21, has communicated its approval to the company for foreign investment by Jomei for the purpose of subscription to the preferential issue of the company, Aditya Birla Capital said in a regulatory filing on Monday. It said the company is proposed to allot 10 crore equity shares at a price of Rs 100 apiece for an aggregate consideration of Rs 1,000 crore to Jomei. "With such approval being received, we confirm that all regulatory approvals in relation to preferential allotment of equity shares to Jomei have now been received and, thus, allotment of equity shares to Jomei is proposed to be completed within 15 days from the date of receipt of DEA approval," it said. Shares of the company closed at Rs 87.15 apiece on the BSE, down 3.27 per cent from the previous close. KPM HRS

Aditya Birla Capital gets Rs 1,000 cr foreign investment from Jomei

New Delhi, Mar 3 () PNB Housing Finance on Tuesday said its board has approved raising up to Rs 1,700 crore through qualified institutions placement (QIP) route. The decision was taken at the company's board meeting held on March 3. The board "has approved to raise equity capital aggregating up to Rs 1,700 crore through a QIP," it said in a regulatory filing. "In addition, the board also considered it advisable, subsequent to the successful closure of the QIP, to offer Quality Investment Holdings and/or its affiliates/nominees a preferential allotment of equity shares and/or permissible securities (including convertible securities/warrants) of the company," it added. The preferential allotment to Quality Investment Holdings --an investment vehicle of the Carlyle Group -- is subject to conditions, including the terms of the preferential issue being no less favourable than those offered to QIP investors. "It is clarified that QIH is not obligated to subscribe in the preferential issue at this stage. Should it choose to participate, QIH can subscribe to at least such number of agreed securities in the preferential issue as required to maintain its pre-QIP shareholding in the company," PNB Housing Finance said. PNB Housing promoter Punjab National Bank (PNB) and Carlyle Group are to sell at least 51 per cent stake in the housing finance company, in which they are the joint investors. As of December 31, 2019, PNB held 32.65 per cent stake in the company while QIH had shareholding of 32.22 per cent. The company's asset base comprises retail loans and corporate loans. The retail business focusses on organized mass housing segment financing for acquisition or construction of houses. It also provides loan against properties and loans for purchase and construction of non-residential premises. Shares PNB Housing Finance closed at Rs 341.10 apiece on the BSE, up 0.84 per cent from the previous close. KPM KPM ANUANU

PNB Housing Finance board approves Rs 1,700 cr fundraising via QIP

New Delhi, Jun 12 () IDFC First Bank on Friday said it has raised nearly Rs 2,000 crore by issuing shares on preferential basis to its promoters and various other financial services players. "The duly authorized committee of the board of directors of the bank at its meeting held today, i.e. June 12, 2020, has approved the allotment of 86,24,40,704 equity shares ...at a price of Rs 23.19 per equity share (including premium of Rs 13.19 per share), to the allottees on preferential basis," IDFC First Bank said in a regulatory filing. Promoter IDFC Financial Holding Company Ltd bought 34,49,76,282 shares, followed by ICICI Prudential Life Insurance Company Ltd which subscribed to 25,87,32,212 shares in the private sector bank. HDFC Life Insurance Company Limited, Bajaj Allianz Life Insurance Limited and Dayside Investment Ltd had allotments of 8,62,44,070 shares each. Stock of IDFC First Bank closed 4.02 per cent up at Rs 25.90 apiece on BSE. KPM ABM ABM

IDFC First Bank raises nearly Rs 2,000 cr via preferential allotment of shares

New Delhi, Jan 21 () Allcargo Logistics on Tuesday said it has acquired about 13 per cent stake in express distribution and supply chain solutions provider Gati Ltd.
 It said that the firm is well on track to complete the process to acquire 44.5 per cent stake in Gati.
 "In line with the approval by Gati's shareholders at the EGM (extraordinary general meeting) on the January 7, 2020, the board of Gati today (on Tuesday) allotted 1.33 crore shares at Rs 75 apiece to Allcargo by way of preferential allotment," Allcargo said in a statement.
 As part of this preferential allotment process, Allcargo has already infused Rs 100 crore into Gati, it said.
 The preferential allotment, it said, would result in Allcargo acquiring 10.91 per cent stake in Gati.
 Allcargo had acquired 27 lakh shares in Gati in the previous week through open market purchases.
 "After these transactions, Allcargo owns close to 13 per cent stake in Gati, which makes it the single-largest shareholder of Gati. Hundred per cent of the capital required to fund the open offer (Rs 238 crore) has been deposited into an escrow account set up as per Sebi norms, for open offer transaction," the statement said.
 Allcargo said it is confident of closing this transaction as per regulatory norms and process of law and with due consideration to compliance and governance. NAM HRS

Allcargo acquires nearly 13 per cent stake in Gati

<keyword id="58448" type="COMPANY" weightage="20" keywordseo="Reliance-Retail">Reliance Retail</keyword> Ventures Limited (RRVL), <keyword id="6436290" type="UNKNOWN" weightage="20" keywordseo="just-dial">Just Dial</keyword> and <keyword id="614985" type="COMPANY" weightage="20" keywordseo="vss-mani">VSS Mani</keyword> and others on Friday executed definitive agreements which will entail preferential allotment of 2.12 crore equity shares, equivalent to 25.33 per cent post preferential share capital, at a price of <keyword id="11656458" type="UNKNOWN" weightage="20" keywordseo="rs-1022-25">Rs 1,022.25</keyword> per share. Post the agreements, <keyword id="6484187" type="COMPANY" weightage="20" keywordseo="ril">RIL</keyword> will acquire 1.31 crore equity shares by RRVL from VSS Mani (equivalent to 15.62 per cent post preferential share capital) at a price per share of Rs 1,020. RRVL will hold 40.95 per cent and would make an open offer to acquire up to 26 per cent stake in accordance with takeover norms. RRVL would make a public announcement to the public shareholders of Just Dial to acquire up to 2.17 crore equity shares of Just Dial, representing 26 per cent in accordance with <keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword> takeover regulations, RRVL said in a statement. VSS Mani shall continue as Managing Director and Chief Executive Officer to lead Just Dial through the next phase of growth. The capital infused by RRVL will help drive the growth and expansion of Just Dial into a comprehensive local listing and commerce platform. Just Dial would expand discovery on its platform and enhance transactions for millions of products and services. These investments will leverage Just Dial's existing database of 30.4 million listings and its existing consumer traffic of 129.1 million quarterly unique users (as on March 31, 2021). Speaking on the transaction, Isha Ambani, Director of RRVL, said: "Reliance is excited to partner with Justdial and VSS Mani, a first-generation entrepreneur, who has created a strong business through his business acumen and perseverance. The investment in Just Dial underlines our commitment to New Commerce by further boosting the digital ecosystem for millions of our partner merchants, micro, small and medium enterprises. We look forward to working with the highly experienced management team of Just Dial as we further expand the business going forward." Mani, Founder and CEO of Justdial, said: "Nearly 25 years ago, we had a vision to build a connected single platform dedicated to providing fast, free, reliable and comprehensive information to our users and connect buyers to sellers. Our vision has evolved to not only provide search and discovery but drive commerce across merchants through our B2B platform and enable further consumer to merchant commerce given our platform engagement. Our strategic partnership with Reliance enables us to realize this vision and transform the business going forward." The transaction is subject to shareholder and other customary closing conditions and approvals. Morgan Stanley acted as financial advisor, JM Financial as manager to the open offer, <keyword id="11656457" type="UNKNOWN" weightage="20" keywordseo="shardul-amarchand-mangaldas-and-khaitan-co">Shardul Amarchand Mangaldas and Khaitan &amp; Co</keyword> as legal advisors and Deloitte as accounting and tax advisors to RRVL. Goldman Sachs acted as exclusive financial advisor, Cyril Amarchand Mangaldas as legal advisor and Ernst &amp; Young provided tax advisory and diligence services to Just Dial and its promoters. SEE ALSO - <a href="https://www.businessinsider.in/tech/news/netflix-plans-to-add-video-games-to-its-categories/articleshow/84433119.cms">Netflix will reportedly add video games on its platform ‘within the next year’</a> <a href="https://www.businessinsider.in/business/corporates/news/just-dial-share-price-surge-as-mukesh-ambani-is-looking-to-buy-just-dial/articleshow/84432450.cms">As Mukesh Ambani reportedly dials in, Just Dial stocks surge 3%</a>

Mukesh Ambani's Reliance Retail to buy majority stake in Justdial, VSS Mani to continue as MD and CEO

New Delhi, Feb 7 () Realty firm Prestige Estates Projects Ltd has raised Rs 462.64 crore through sale of shares to institutional investors.The fund raising committee of the company's board has approved the allotment of around 1.24 crore equity shares at Rs 372.50 apiece, aggregating to Rs 462.64 crore, the company said in a regulatory filing.The issue opened on January 30, 2020, and closed on February 4, 2020.Last month, the company had raised Rs 437 crore through preferential allotment of shares to Singapore sovereign wealth fund GIC.The board had allotted 1,34,41,654 shares of Rs 10 each to GIC affiliate firm on a preferential allotment basis, at a price of Rs 325 per equity share.Prestige group has reported over two-fold jump in consolidated net profit at Rs 161.8 crore for December quarter as against Rs 58.1 crore in the year-ago period.Total income from operations also rose sharply to Rs 2,696.3 crore during October-December of 2019-20 from Rs 1,079 crore in the corresponding period of previous fiscal. Prestige group has completed 250 projects across India. MJH RUJ

Prestige group raises Rs 463 cr via shares sale to institutional investors

New Delhi, Dec 6 () Shares of Allcargo Logistics on Friday rose 3 per cent after the company said it will acquire around 44 per cent stake in Gati for nearly Rs 416 crore, marking its foray into the express logistics market.
The scrip gained 3.03 per cent to close at Rs 97 on the BSE. During the day, it jumped 5 per cent to Rs 98.90.
 At the NSE, it climbed 2.54 per cent to close at Rs 96.60.
 Shares of Gati, however, fell 4.62 per cent to close at Rs 62.95 on the BSE, while on the NSE, it declined 4.69 per cent to Rs 62.95.
Under the deal, Allcargo will first buy over 1.03 crore shares and subscribe to a preferential issue of over 1.33 crore shares (collectively 18 per cent shares) held by promoters and promoter group of Gati, including Mahendra Kumar Agarwal, Mahendra Investment Advisors and TCI Finance and also Gati, at Rs 75 a share.
 Allcargo will then make an open offer to buy another 3.17 crore shares, representing 26 per cent of the paid-up voting equity share capital (post-preferential issue and vesting of stock options) from the retail shareholders of Gati at Rs 75 a share, taking the total deal value to around Rs 416 crore, Chairman Shashi Kiran Shetty said.
 With Gati under its fold, Allcargo can offer a range of logistics services, including multimodal transport, container freight stations/inland container depots, projects and engineering solutions, warehousing, distribution, contract logistics and logistics parks. 


 
 SUM ANU
ANU

Allcargo Logistics stock rises 3 pc after Gati deal

New Delhi, Jan 27 () Realty firm Prestige Estates Projects Ltd has reported over two-fold jump in consolidated net profit at Rs 161.8 crore for December quarter and raised Rs 437 crore through preferential allotment of shares to Singapore sovereign wealth fund GIC.
Its net profit stood at Rs 58.1 crore in the year-ago period.
Total income from operations also rose sharply to Rs 2,696.3 crore during October-December of 2019-20 from Rs 1,079 crore in the corresponding period of the previous year, Bengaluru-based developer said in a regulatory filing.
 The board of directors has allotted 1,34,41,654 equity shares of Rs 10 each to an investor, on a preferential allotment basis, at a price of Rs 325 per equity share.
Last month, the board had approved "issue and allotment of 1,34,41,654 equity shares at a price not less than floor price of Rs 323.22" on preferential basis to GAMNAT Pte Ltd, which is an affiliate of GIC.
Prestige group announced development of 250 projects across India with completion of seven projects, including three housing and four commercial, across Bengaluru. The company last week launched a new township project Prestige Finsbury Park. 
"2020 has begun on an extremely positive note for us at Prestige Group as we announce the completion of 7 developments across Bengaluru. With these newly completed developments, we will have 250 landmark structures across India that stand as a testimony to our work," said Irfan Razack - CMD, Prestige Group.
 "On a macro-level, this year, I expect to see greater optimism and trust in Indian real estate. And, of course, substantial growth, especially in the affordable and mid-income housing segments, courtesy the decline in home loan interest rates and the 'Housing for All by 2022' initiative," he said in a statement.
Razack, former chairman of realtors' body CREDAI, asked the industry to adopt a more positive outlook, implement realistic pricing, foster greater trust, and tap into the amazing opportunities this year.
Prestige Group has diversified business models across the residential, office, retail, and hospitality segments with operations in 12 key locations in India. The group has 45 ongoing projects across segments, with total developable area of 49 million sq ft. Further, it has 66 million sq ft under planning and holds a land bank with potential developable area of over 29 million sq ft. 
The consolidated turnover of the company during FY2018-19 was Rs 5,284 crore. MJH MJH RUJ
RUJ

Prestige Estates Q3 profit jumps over two-fold to Rs 162 cr

New Delhi, Dec 23 () Bengaluru-based Prestige Estates Projects Ltd's board has approved issuing 1.34 crore equity shares to Singapore's sovereign wealth fund GIC on preferential basis for Rs 434 crore.
 GIC held 4.36 per cent stake in the company as on September 30, 2019.
 The company's board has approved "issue and allotment of 1,34,41,654 equity shares at a price not less than floor price of Rs 323.22" on preferential basis to GAMNAT Pte Ltd, which is an affiliate of GIC, according to a regulatory filing by Prestige Estates.
 Shares of the company fell 0.65 per cent to Rs 345.20 apiece on Monday. 
 Prestige Estates will take shareholders' approval before allotting these shares to GAMNAT.
 In its 32 years of operations, Prestige Group has completed 236 real estate projects, comprising nearly 125 million sq ft of developable area, mostly in south India.
 Prestige Estates is also foraying into the Delhi-NCR market and has tied up with local developer Ace Group to launch its first housing project in Noida with an investment of around Rs 500 crore on construction.
 It has also announced a joint venture with DB Group to develop a large hotel and convention centre project at Aero City in the national capital with an investment of Rs 2,000 crore.
 GIC has been investing heavily in Indian real estate market. 
 It invested around Rs 9,000 crore to acquire around 33 per cent stake in DLF's rental arm DLF Cyber City Developers Ltd (DCCDL). MJH RVK

GIC to invest Rs 434 cr in Prestige Estates

Mumbai, <keyword id="87184" type="DOMAIN" weightage="20" keywordseo="Thomas-Cook">Thomas Cook</keyword> (<keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>) plans to raise up to ₹450 crore through preferential issue of Optionally Convertible Cumulative Redeemable Preference Shares (OCCRPS) to Fairbridge Capital (Mauritius) Limited to the promoter of the company In a regulatory filing the company has said that the "<keyword id="136326" type="COMPANY" weightage="20" keywordseo="Board-of-Directors">Board of Directors</keyword> of the company, at its meeting held today, has, <keyword id="6370698" type="DOMAIN" weightage="20" keywordseo="Inter">inter</keyword> alia, approved the <keyword id="47958" type="PERSON" weightage="20" keywordseo="issuance">issuance</keyword> of up to 45,00,00,000 Optionally Convertible Cumulative Redeemable Preference Shares of face value of ₹10 each to Fairbridge Capital (Mauritius) Limited, the promoter of the company, through private placement on a preferential basis aggregating upto ₹450 crore." The issuance would however be subject to the approval of regulatory or statutory authorities including the <keyword id="6354335" type="COMPANY" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> and the shareholders of the company at the forthcoming Extraordinary General Meeting. Further, it said that as a result of the proposed issue, the board approved the increase in the authorised preference share capital from ₹250 crore to ₹500 crore and consequential changes to the Capital Clause of the Memorandum of Association of the company. For the purpose of giving effect to the above issuance of OCCRPS, the board has authorised a committee to decide on various matters related to issuance of such OCCRPS. SEE ALSO: <a href="https://www.businessinsider.in/entertainment/news/pewdiepies-lyrics-targeting-cocomelon-and-jk-rowling-that-may-have-gotten-youtube-angry-enough-to-pull-the-video-down/articleshow/81102941.cms">PewDiePie's lyrics targeting CocoMelon and JK Rowling may have gotten YouTube angry enough to pull the video down</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-gets-leaner-with-a-300-million-jabong-write-off-as-ceo-kalyan-krishnamurthy-lists-out-the-priorities-for-2021/articleshow/81105083.cms">Flipkart gets leaner with a $300 million Jabong write-off as CEO Kalyan Krishnamurthy lists out the priorities for 2021</a> <a href="https://www.businessinsider.in/stock-market/news/happiest-minds-is-leveraging-its-partnerships-with-big-players-like-google-microsoft-aws-salesforce/articleshow/81105035.cms">Happiest Minds is a smaller company that does the same thing as MindTree and L&amp;T Infotech — but clearly it is doing it a lot better</a> <a href="https://www.businessinsider.in/tech/news/india-may-require-twitter-facebook-and-others-to-remove-unlawful-content-within-36-hours/articleshow/81104740.cms">India may require Twitter, Facebook and others to remove unlawful content within 36 hours</a>

Thomas Cook India plans to raise up to ₹450 crore via preferential issue

New Delhi, May 1 () Private sector IDFC First Bank will raise Rs 2,000 crore equity capital by issuing shares to its promoter, and four non-promoter entities, including Warburg Pincus and three insurers, the private lender said. Warburg Pincus affiliate Dayside Investment Ltd and insurance firms ICICI Prudential Life Insurance Company, HDFC Life Insurance, and Bajaj Allianz Life Insurance will infuse capital in the lender.The lender in a regulatory filing said that the board of directors in a meeting held on May 1, 2020 approved to issue 86,24,40,704 equity shares on preferential basis for a total amounting to Rs 2,000 crore which to the five entities including its promoter IDFC Financial Holding Company Limited.The promoter will acquire 34,49,76,282 shares and ICICI Prudential Life 25,87,32,212 shares. The rest of three investors will buy 8,62,44,070 shares each.IDFC First Bank said that Dayside Investments Ltd along with Cloverdell Investment Ltd, both Warburg Pincus LLC Group entities, together holds 47,72,64,867 equity shares constituting 9.92 per cent of the pre-issue shareholding and 56,35,08,937 equity shares constituting 9.93 per cent of the post issue shareholding of the bank. The total number of paid up equity shares of the bank will be 567,23,43,720 post the issue, it said. "The networth of the bank post the issue and as added to the networth as of 31st December 2019 will be Rs 17,240 crore," IDFC First Bank said.The lender said that the said preferential allotment shall be subject to approval of the members of the bank proposed to be sought through Postal Ballot by way of 'Remote E-Voting' in terms of the applicable Circulars recently issued by MCA (April 2020) in view of the current extra-ordinary circumstances due to COVID-19 pandemic requiring social distancing and also in accordance with relevant SEBI norms. KPM MRMR

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