ICICI Prudential, IDFC may back IDFC First’s Rs 2,000 crore issue

ICICI Prudential Life Insurance and IDFC Ltd may subscribe to a majority of the Rs 2,000-crore preferential issue being planned by IDFC First Bank, as it looks to create a war chest to fight any liquidity crisis. While ICICI Prudential is expected to invest Rs 500-600 crore, parent IDFC is likely to pump in about Rs 800 crore to maintain its 40% stake.

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