Nuvama Investment Bank has successfully closed the QIP transaction for IDFC First bank, this being our 5th INR 1,000 Crs+ transaction (QIPs & IPOs) of Lending Companies in last 30 months

Qualified Institutional Placement

Service

October 2023

Date

Financial Institutions

Sector

INR 30,000 MN

Deal Value

Nuvama Investment Bank has successfully closed the QIP transaction for IDFC First bank, this being our 5th INR 1,000 Crs+ transaction (QIPs & IPOs) of Lending Companies in last 30 months

Deal Details

  • QIP received an overwhelming response from investors
    • ~71% of the book was allocated to ‘Long Only’ Investors
    • ~43% of the book was allocated to Domestic Institutional Investors
  • Deal was launched within record timelines ~2 weeks from kick off

Contribution

  • With IDFC First Bank QIP, Nuvama has successful closed “Five” ₹10,000 mn+ transactions* of Lending Companies in the last 30months
  • Dominated procurement in the QIP – Highest overall share of ~31% share in terms of amount procured
  • Garnered participation from a diverse investor set including Global Pension Fund, LO FIIs, Mutual Fund, Insurance Companies and LO DIIs
    • Highest number of investors converted (14/36) and 56% of the Domestic / India Focused Investors
  • Nuvama worked closely with the Bank through the entire QIP process including post issue activities to ensure smooth and successful closure

About

IDFC First Bank is a digital led bank with a well diversified product suite with specialized focus on retail, rural and SME Segment, strong brand positioning and a growing distribution network across India