IDFC First Bank Limited
LIC entered IDFC First Bank with 20,23,69,591 shares, representing a 2.35% stake in the bank. The stake was acquired via a preferential allotment at ₹80.63 per share, for a total of ₹1632.7 crore.
A private sector bank providing comprehensive banking services across retail, corporate, and wholesale segments to customers throughout India. IDFC First Bank was formed through the merger of IDFC Bank and Capital First in 2018, combining their complementary strengths and expertise. The bank operates an extensive network of branches and digital channels, offering lending products, deposit accounts, investment solutions, and other financial services to individuals and businesses.
India's largest domestic institutional investor with over Rs 56 lakh crore in total AUM, of which roughly Rs 15 lakh crore sits in listed equities. Holds stakes in virtually every major listed Indian company. When LIC builds or exits a position, it moves markets. Government-owned and mandated to invest policyholder funds in Indian equities and bonds, making it the ultimate long-only, long-term India bull.