Warburg Pincus, ADIA units to invest $877 million in India's IDFC FIRST Bank
IDFC FIRST Bank will issue Warburg Pincus and ADIA convertible shares, which, if fully converted, will give them a combined 15% stake in the bank. Currant Sea Investments B.V., a Warburg Pincus affiliate, will invest 48.76 billion rupees for a 9.8% stake, while ADIA unit Platinum Invictus B 2025 RSC will invest about 26.24 billion rupees for a 5.10% stake, IDFC FIRST said.