IDFC First Bank is getting Warburg Pincus and the Abu Dhabi Investment Authority (ADIA) to infuse Rs 7,500 crore to fuel the lender's next phase of growth.

The entities will have a combined 15% stake in IDFC First Bank. While Currant Sea Investments BV, an affiliate of Warburg Pincus, will pump in Rs 4,876 crore to hold 9.8% stake, Platinum Invictus B 2025 RSC Ltd, a wholly-owned  subsidiary of ADIA, will invest Rs 2,624 crore for a 5.10% stake.

The bank’s board on Thursday approved a preferential issue of equity capital amounting to Rs 7,500 crore, the lender said in a regulatory filing.

The deal, however, is subject to shareholder and regulatory approvals.

The proposed fund raise will increase the book value per share of IDFC First Bank by 2.3%. The bank’s capital adequacy ratio will increase from 16.1% to 18.9%, the lender said.

The mid-sized private lender has 971 branches, a loan book of Rs 2.31 trillion and a deposit base of Rs 2.27 trillion.

“It is great to have Warburg Pincus back and to welcome a wholly owned subsidiary of ADIA as our shareholder. We thank them both for believing in us and our future growth plans and for investing in us even under volatile global situations,” said IDFC First Bank managing director and CEO V Vaidyanathan.