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The record date for the merger of IDFC First Bank and IDFC Ltd. is scheduled for October 10, 2024, and, therefore, the NSE Indices will be making the necessary adjustments today during the last 30 minutes of trading. Therefore, October 9, is the final trading day for IDFC Ltd before its merger. Following this, IDFC First Bank's weight in the Nifty Bank index is expected to increase, while other constituents will experience a slight decrease in their respective weights, said Abhilash Pagaria of Nuvama Alternative & Quantitative Research. Following the merger, IDFC First Bank is expected to attract $39 million in passive inflows. Other banks including HDFC Bank will see $11 million outflows, followed by ICICI Bank at $10 million, State Bank of India at $4 million, Kotak Mahindra Bank at $4 million, Axis Bank at $4 million, and IndusInd Bank at $2 million.

IDFC First Bank-IDFC merger: Passive inflows worth $39 million likely, says Nuvama

IDFC FIRST Bank the launch of the UPI enabled RuPay Credit Card called – FIRST EA₹N. The new card, which is the result of the bank's partnership with RuPay, is backed by fixed deposit (FD), enabling everyone to instantly avail the service online. It also offers cashback on UPI payments thus making the product rewarding for users. With every UPI spend, customers earn up to 1% cashback, the lender added. Features and Benefits are UPI Integration: The FIRST EA₹N Credit Card is ready for UPI transactions at more than 60 million UPI QR codes, Instant Card Issuance: Virtual credit card issued instantly with UPI integration for immediate use, Maximum availability: This secured credit card requires a fixed deposit and is available to everyone, Cash Back Launch offer: New cardholders on joining get 100% cashback on their first UPI transaction amount up to ₹500, within 15 days of card creation. Effectively, the first year fees is paid back as cash back.

IDFC FIRST Bank launches FIRST EA₹N RuPay credit card

The Reserve Bank of India has given its approval to Currant Sea Investments B.V., a unit of Warburg Pincus, to acquire up to 9.99% stake in IDFC First Bank On June 3rd, the Competition Commission of India had issued its nod to Warburg Pincus for the same. Current Sea Investments is an arm of the US-based private equity major, which had sought CCI's nod for the proposed acquisition in April. This approval comes days after IDFC First Bank shareholders rejected the proposal to induct a non-retiring board member from Currant Sea Investments. Only 64.1% of shareholders had voted in favour of the appointment, falling short of the 75% threshold required for approval. Both affiliates of Warburg Pincus and the Abu Dhabi Investment Authority had agreed to jointly invest Rs 7,500 crore in the bank by way of compulsorily convertible preference shares.

RBI Allows Warburg Pincus Unit To Acquire 9.99% Of IDFC First Bank

IDFC FIRST’s slippages rose to 4.2% in FY25, led by MFI stress, pushing credit cost to 2.6%. Strong provisions improved NNPA. Credit cost is expected to ease to 1.9% in FY26, supporting RoA recovery. Execution amid macro risks remains key.


IDFC FIRST’s cost-to-income ratio was high at 72% in FY25 but is improving, with profitability expected to rise as expense growth moderates.


The issuer has made timely interest payments.

Mr. V. Vaidyanathan, Managing Director & CEO

IDFC FIRST’s capitalisation is strong with CET-I at 13.17% and CRAR at 15.48% as of March 2025, supported by Rs 3,200 crore raised in FY25. A Rs 7,500 crore fundraise in FY26 will aid future growth.


IDFC FIRST’s deposits rose 26% to Rs 2.52 lakh crore in FY25, with 76% from retail sources. CASA stood at 46.9%. Legacy high-cost borrowings dropped to 1.6%, aiding future reduction in funding costs.

IDFC FIRST’s advances grew 20% YoY to Rs 2.33 lakh crore in FY25, with retail, rural, and SME loans steady at 82%. Corporate loans rose 34% as infra exposure declined. Focus remains on maintaining asset quality.


Security Name: 9.25% IDFC First Bank Limited 20 Nov 2025

ISIN: INE688I08103

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