Nuvama was the Exclusive Financial Advisor to IDFC First Bank for its successful equity fund raise

IDFC First Bank is a digital led bank with a well-diversified product suite with a specialized focus on retail, rural and SME segment, strong brand positioning and a growing distribution network across India. IDFC FIRST Bank was formed by the merger of the banking arm of Infrastructure Development Finance Company and Capital First, an Indian non-bank financial institution. It is the first universal bank to offer monthly interest credit on savings accounts, lifetime free credit cards with dynamic and low annual percentage rates.

Nuvama Wealth Management Limited has successfully closed a transaction of c.INR 30,000mn (US$ 360mn) as the BRLM to IDFC First Bank for its successful equity fund raise.