Currant Sea Gets RBI Nod To Buy 9.99% Stake In IDFC FIRST Bank

Currant Sea Investments B.V. has secured approval from the Reserve Bank of India to acquire a 9.99% stake in IDFC FIRST Bank, the lender said in an exchange filing.

Earlier this month, the bank’s board had cleared an amended investment deal to issue preferential shares to Currant Sea for around 9.48% stake.

In April, the board had approved plans to raise ₹75 billion from Currant Sea and Platinum Invictus B 2025 RSC Ltd.