IDFC First Bank Ltd

Meeting Details

• Board meeting date: October 24, 2026.
• Time and venue not disclosed.

Key Agenda Items

• Consider and approve unaudited standalone and consolidated results for Q2 FY2027 (quarter and half-year ended Sep 30, 2026).
• Subject to limited review by joint statutory auditors.

Other Notes

• Trading window closed Oct 01 to Oct 26, 2026 for designated persons and their immediate relatives.

Senior Management Appointment

• Change type: Appointment of Senior Management Personnel.
• Person: Mr. Shyamal Malhotra, appointed as Senior Management Personnel.
• Effective date: September 22, 2026; term: full-time employment.
• Reason: appointment to Senior Management.
• Profile: 25+ years in corporate banking, transformation, growth.
• Past roles: Citi, HSBC, Deutsche Bank; MD and Co-Head, Corporate Banking, India.
• Recent work: led B2B e-commerce platform development at JSW.
• Relationships: Not Applicable.

ESOS Allotment

• Allotment of 6,28,885 equity shares on exercise under ESOS approved September 22, 2026.
• Post allotment, issued and paid-up capital stands at ₹86,22,82,51,210 comprising 8,62,28,25,121 shares.

ESOS Allotment

• On September 11, 2026, the ESOS allotment of 4,86,713 equity shares was approved.
• Shares are fully paid-up and rank pari-passu with existing shares.
• Post allotment issued capital rises to ₹86,22,19,62,360 from ₹86,21,70,95,230.
• Total equity shares increase to 8,62,21,96,236.

FCNR(B) mobilisation and lending

• Mobilised gross FCNR(B) deposits of USD 3.57 billion from NRIs under RBI swap window.
• Deposits amount to ₹33,975 crore and ~11% of total deposits as of 30 June 2026.
• IFSC Banking Unit facilitated lending of USD 2.60 billion (~₹24,720 crore) during the period.
• FCNR(B) mobilisation figures are provisional and unaudited; INR equivalents as of August 31, 2026.

AGM Details

• AGM held on August 31, 2026 at 2:00 PM IST via VC/OAVM.
• Cut-off date for voting: August 24, 2026.
• Mode: Video Conferencing / Other Audio Visual Means.

Key Resolutions

• Item 1: Ordinary resolution for adoption of standalone financial statements.
• Item 2: Ordinary resolution for adoption of consolidated financial statements.
• Item 3: Ordinary resolution for re-appointment of Pradeep Natarajan.
• Item 4: Ordinary resolution for declaration of dividend.
• Item 5: Special resolution for raising funds via equity issuance.
• Item 6: Special resolution for issuance of debt securities on private placement.
• Item 7: Special resolution for amendment to Articles of Association.

Voting Results

• Resolution 1 passed; 99.84% in favour.
• Resolution 2 passed; 99.85% in favour.
• Resolution 3 passed; 99.49% in favour.
• Resolution 4 passed; 99.93% in favour.
• Resolution 5 passed; 99.00% in favour.
• Resolution 6 passed; 99.93% in favour.
• Resolution 7 passed; 95.18% in favour.

Dividend

• Dividend declared on equity shares for FY2025-26; per-share amount not disclosed.

Director Changes

• Pradeep Natarajan re-appointed as Director, retiring by rotation.

Auditor Appointments

• No change in auditors reported.

Other Material Approvals

• Equity issuance enabling approval approved.
• Debt issuance through private placement approved.
• Amendment to Articles of Association approved.

Material Related Party Transactions

• No material related party transactions disclosed.

AGM details

• AGM held on 31 August 2026 at 2:00 PM IST.
• Mode: VC/OAVM.
• Remote e-voting from 26 to 30 August 2026.
• Meeting concluded at 5:10 PM IST.
• Quorum declared; registers available for inspection.
• Scrutinizer appointed for e-voting: Ms. Manisha Bhandari.
• All AGM business per Notice completed.
• E-voting results to be declared by Sep 2, 2026.

Resolutions and voting status

• All agenda items were completed as per the Notice.
• E-voting results to be declared on or before Sep 2, 2026.
• Scrutinizer's report to be placed on bank and NSDL websites.

Rating actions and instruments

• S&P assigned BBB- long-term rating to USD 350m 5-year senior notes.
• Issuer rating BBB-/Stable/A3; outlook Stable.
• CareEdge assigned BBB-/Positive to IDFC First Bank and USD 600m 3-year senior notes.
• Outlook for CareEdge rating: Positive.
• CareEdge covers foreign currency issuer and notes.

Rationale and financial profile

• CAR 15.6% as of 31 Mar 2026 indicates comfortable capitalisation.
• Retail deposits granular; CASA 50.8% as of 30 Jun 2026.
• RAM segment ~80% of advances; diversified loan book.
• Liquidity strong; LCR robust with multiple funding channels.
• Profitability modest; RoA 1.06% in Q1 FY27; opex elevated.
• GNPA 1.5% as of Jun 30, 2026; credit costs 1.13% in Q1 FY27.
• Deposits around Rs 3 trillion; borrowings 11.7% of total deposits & borrowings.

Outlook and sensitivities

• CareEdge positive outlook on growth in deposits and profitability via operating leverage.
• Upward factors: scale, RoA above 1.2%, lower opex.
• Downward factors: RoA sustained below 0.8-1.0%; GNPA above 2%.
• S&P action details include a Stable issuer outlook.

Investor meetings schedule

• Investor meetings scheduled: Goldman Sachs Asia Leaders Conference, 01-02 Sep 2026, Hong Kong.
• ASHWAMEDH - ELARA INDIA DIALOGUE 2026 on 03 Sep 2026, Grand Hyatt, Mumbai.
• UBS India Conference on 11 Sep 2026 at Trident, Nariman Point, Mumbai.
• JP Morgan India Conference 2026 on 21 Sep 2026, St. Regis, Mumbai.
• 33rd CITIC CLSA Investor's Forum, 22-23 Sep 2026, Grand Hyatt, Hong Kong.
• Schedule is subject to change due to exigencies.
• Q1-FY27 investor presentation will be used; uploaded on the company's website.

Notes issuance details

• Issuer: IDFC FIRST Bank Limited, through its IFSC Banking Unit.
• Issuance size: US$350 million; five-year tenor.
• Type: Reg S issuance on a private placement basis.
• Allotment 28 August 2026; maturity 28 August 2031.
• Coupon: 5.800%; payments on Aug 28 and Feb 28.
• Security: Unsecured.
• Listing: Proposed on Vienna MTF and India debt markets (INX/NSE IX).
• Redemption: Redeemable at maturity unless previously redeemed or purchased.
• Pricing and demand: Pricing August 24, 2026; strong demand from marquee global institutional investors.
• Follow-on issuance context: Follows US$500m 3-year issue priced Aug 18; upsized to US$600m on Aug 19.