IDFC First Bank Share Price Today: Stock Slides Over 4% Post Fundraise Approval

The shares of IDFC First Bank fell 4.1% to Rs 60.70 during Thursday's intra-day trade on the BSE after the bank's board approved raising up to Rs 7,500 crore.

The bank was trying to raise funds of up to Rs 7,500 crore through preferential shares to affiliates of Warbug Pincus and the Abu Dhabi Investment Authority (ADIA).

The bank's Board approved issuing a preferential equity capital issue of Rs 4,876 crore to Currant Sea Investments B.V., which is an affiliate of Warbug Pincus LLC, and Rs 2,624 crore to Platinum Invictus B 2025 RSC Limited, a wholly owned subsidiary of ADIA, managed by its Private Equities Department.

IDFC First Bank Share Price Target

The average target price for the IDFC First Bank Stock is Rs 66, highlighting an upside of around 4% from current levels, according to data from Trendlyne. As per the consensus of 19 analysts, the IDFC First Bank shares are a 'Hold'.

The Relative Strength Index (RSI) for the IDFC First Bank stands at 65.2, which is in the neutral zone (below 30 is considered to be oversold; above 70, overbought).

IDFC First Bank Share Price Today

The shares of IDFC First Bank were trading at Rs 66.36 on Monday at 12:18 pm, which is 0.32% higher as compared to its previous close of Rs 66.15 on Friday, which is above their 5-day, 10-day, 20-day, 30-day, 50-day and 100-day simple moving averages (SMAs) but are below the 150-day and 200-day SMAs.

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