Currant Sea Gets RBI Nod for 9.99% Stake in IDFC First Bank

The Reserve Bank of India (RBI) has granted approval to Currant Sea Investments B.V., an affiliate of global private equity giant Warburg Pincus, to acquire up to 9.99% stake in IDFC First Bank (NSE: IDFCFIRSTB).

The bank confirmed this development in a stock exchange filing on Saturday, noting that the clearance paves the way for a significant foreign investment in its capital structure.

Regulatory Approvals in Place

Prior to the RBI approval, the Competition Commission of India (CCI) had also given its nod on June 3, 2025, for the proposed investment. Currant Sea had approached the CCI in April to seek permission for the stake acquisition. The dual regulatory clearances now enable the investment to proceed, strengthening IDFC First Bank’s growth capital base.

Shareholder Vote and Capital Infusion Plan

The approval comes shortly after IDFC First Bank shareholders voted against appointing a non-retiring board member from Currant Sea Investments, with only 64.1% votes in favor, below the required 75% threshold.

Despite this, Warburg Pincus, along with Abu Dhabi Investment Authority (ADIA), remains committed to its ₹7,500 crore capital infusion plan, involving the issuance of 81.26 crore preference shares to Currant Sea and 43.71 crore shares to ADIA-backed Platinum Invictus at ₹60 per share.

Also Read: ICICI Bank Share Price in Focus After Q1 FY26 Results as Net Profit Rises 15.5% YoY!

Conclusion

With RBI and CCI approvals secured, Currant Sea’s stake purchase marks a significant boost to IDFC First Bank’s capital base, signalling confidence from global investors despite recent governance hurdles.

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