Warburg Pincus, ADIA units to invest $877 million in India's IDFC FIRST Bank
Warburg Pincus, ADIA units to invest $877 million in India's IDFC FIRST Bank
IDFC will raise up to 75 billion rupees ($877 million) from affiliate firms of private equity group Warburg Pincus and the Abu Dhabi Investment Authority (ADIA) sovereign wealth fund, the lender said on Thursday.
IDFC FIRST Bank will issue Warburg Pincus and ADIA convertible shares, which, if fully converted, will give them a combined 15% stake in the bank.
Currant Sea Investments B.V., a Warburg Pincus affiliate, will invest 48.76 billion rupees for a 9.8% stake, while ADIA unit Platinum Invictus B 2025 RSC will invest about 26.24 billion rupees for a 5.10% stake, IDFC FIRST said.
