IDFC FIRST Bank has completed the conversion of its compulsorily convertible cumulative preference shares (CCPS) issued to Platinum Invictus B 2025 RSC Limited (“Investor”). A total of 43,71,85,666 equity shares were allotted following the conversion. The Board has also approved a dividend payment of ₹ 39,67,01,076 related to the CCPS. This conversion took place on October 27, 2025.
CCPS Conversion to Equity
IDFC FIRST Bank announced the successful conversion of compulsorily convertible cumulative preference shares (CCPS) held by Platinum Invictus B 2025 RSC Limited (“Investor”). This conversion, effective October 27, 2025, results in the allotment of 43,71,85,666 equity shares to the Investor.
Details of the Allotment
The conversion follows the terms of the Investment Agreement dated April 17, 2025, between IDFC FIRST Bank and the Investor. The Bank’s Board of Directors approved the allotment of 43,71,85,666 equity shares, each with a face value of ₹ 10, corresponding to the converted CCPS. According to the company release, the conversion was implemented at the earliest opportunity as permitted under the Investment Agreement.
Dividend Approval
In accordance with the Investment Agreement, the Board has approved a dividend payment on the CCPS at a rate of 8%, amounting to ₹ 39,67,01,076. The dividend is calculated on a proportionate basis from the allotment date of the CCPS up to the conversion date.
Impact on Share Capital
Following the allotment, the Bank’s paid-up equity share capital has increased to ₹ 85,89,14,23,490, divided into 8,58,91,42,349 equity shares with a face value of ₹ 10 each. The meeting during which this was approved concluded at 7:25 p.m. on October 27, 2025.
Investor Shareholding
Post conversion Platinum Invictus B 2025 RSC Limited now holds 43,71,85,666 equity shares amounting to 5.09% of post conversion equity capital as on date.
Source: BSE
