IDFC FIRST Bank confirms the full utilization of proceeds from its preferential issue to Currant Sea Investments B.V. and Platinum Invictus B 2025 RSC Limited. The funds were used as intended and outlined in the offer documents. There was no material deviation in the use of proceeds compared to the stated objectives. The Audit Committee has reviewed and confirmed the fund utilization status for the quarter ended September 30, 2025.
Preferential Issue Fund Utilization
IDFC FIRST Bank confirms the full utilization of the proceeds raised through the preferential issue to Currant Sea Investments B.V. and Platinum Invictus B 2025 RSC Limited. The funds were utilized for the purposes outlined in the explanatory statement to the Postal Ballot Notice dated April 17, 2025, and in accordance with the terms of the offer documents issued on July 29, 2025, and August 12, 2025, respectively.
No Material Deviation
The bank confirms that there was no material deviation in the utilization of the issue proceeds compared to the stated objectives. The Audit Committee has reviewed the fund utilization and confirmed that there is no deviation/variation in the use of funds raised through the preferential issue.
Fund Allocation
The funds, amounting to ₹48,76,16,83,320.00 from Currant Sea Investments B.V. and ₹26,23,11,39,960.00 from Platinum Invictus B 2025 RSC Limited, were allocated and utilized to cater to the short-term and long-term working capital requirements of the bank, support its future growth plans, and prepare for uncertainties in the macroeconomic scenario.
Source: BSE
