After Adani, JSW Energy, GQG buys stake in IDFC First Bank

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26 Aug, 2025 12:21

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After Adani Group stocks and JSW Energy, Rajiv Jain of GQG is buying into IDFC First Bank. According to the shareholding pattern, GQG Partners has picked up 17.1 crore shares or 2.58 percent stake in the lender for about Rs 1,527 crore.  The transaction was done at Rs 89 apiece.

CNBC-TV18 had earlier reported of a potential stake buy.

Meanwhile, Warburg Pincus affiliate Cloverdell Investment has sold a 4.2 percent stake in the company. As of the June quarter, Cloverdell held about 7.12 percent of IDFC First Bank.

As per the June quarter data, IDFC First Bank's shares are owned by public shareholders with 60.07 percent stake, while promoters have the remaining.

Among the public shareholders, mutual funds own about 2.78 percent and foreign portfolio investors hold 4.51 percent. The government also has 3.94 percent stake in the bank.

Share prices of IDFC First Bank fell as much as 5 percent in early trading, finally recovering to end little changed on Friday (September 1).

Last month, the private sector bank reported profit after tax (PAT) of Rs 770 crore in Q1 of FY24. The strong earnings have backed by healthy loan growth, robust fees and contained credit cost.

Before IDFC First Bank, Rajiv Jain's Fort Lauderdale-based asset management firm had bought nearly Rs 411 crore worth shares in power producer JSW Energy, via open market transactions, on August 14.

As per bulk deals data available with exchanges, the US-based GQG Partners Emerging Markets Equity Fund has bought 1.19 crore equity shares, which is equivalent to 0.72 percent stake in the power producer, at an average price of Rs 345 per share. The stake buy was worth Rs 410.94 crore.