JSA acts on IDFC First Bank ₹7,500 crore fundraise

JSA Advocates & Solicitors advised IDFC FIRST Bank on its fundraise from Warburg Pincus and Abu Dhabi Investment Authority (ADIA), aggregating up to ₹7,500 crore. 

The transaction team consisted of Vikram Raghani (Lead Partner), Bir Bahadur Singh Sachar (Partner), Sushim Aryan (Principal Associate), Associates Tavishi Chandra, Parth Mehta and Samika Pachouly and Niki Shah (Company Secretary).

They were supported by the Banking team consisting of Anish Mashruwala (Partner), Pratish Kumar (Partner), Karan Abichandani (Principal Associate) and Associates Anmol Narang, Madhur Bhatt and Arpita Mittal.

This significant capital infusion comes from prominent global investors, with ₹4,876 crore from Currant Sea Investments B.V. (an affiliate of Warburg Pincus) and ₹2,624 crore from Platinum Invictus B 2025 RSC Limited (a subsidiary of ADIA). The CCPS are priced at ₹60 per share, and upon conversion, these investors will hold approximately 9.48% and 5.1% stakes, respectively. This fundraise is subject to the necessary shareholder and regulatory approvals.

IDFC FIRST Bank is a new-age private bank in India, with a vision to create a world class bank in India, focused on ethical, digital, and social good  banking. The Bank operates 971 branches spread over 60,000 locations including cities, towns, and villages across India. While it has a physical network, it is built as a digital first bank in approach, scale and scope. The Bank is a full suite universal bank offering services across Retail, MSME, rural, corporate, wealth management, private banking, Fastag, cash management, NRI and treasury solutions.

If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.