IDFC FIRST Bank Limited has completed the allotment of equity shares to employees under its Employee Stock Option Scheme, marking another milestone in the bank's employee compensation program. The allotment was executed on March 23, 2026, following regulatory approvals and employee option exercises.

Share Allotment Details

The bank's duly authorized Committee of the Board of Directors approved the allotment of 4,90,588 equity shares of face value ₹10 each, fully paid-up, to eligible employees. These shares were issued pursuant to the exercise of previously granted and vested stock options under the 'IDFC FIRST Bank Limited - Employee Stock Option Scheme'.

The newly allotted equity shares shall rank pari-passu with the existing equity shares of the bank in all respects, ensuring equal rights and privileges for all shareholders.

Impact on Share Capital

The allotment has resulted in an increase in the bank's issued and paid-up equity share capital. The capital structure transformation reflects the bank's commitment to employee participation in its growth story.

Regulatory Compliance

The share allotment was disclosed under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The bank has informed both the National Stock Exchange of India Limited and BSE Limited about this corporate action, ensuring full transparency and regulatory compliance.

The communication was signed by Satish Gaikwad, General Counsel and Company Secretary of IDFC FIRST Bank Limited, confirming the bank's adherence to proper corporate governance procedures in executing the employee stock option scheme.

IDFC FIRST Bank Limited has completed the publication of its postal ballot notice in newspapers, seeking shareholder approval for the re-appointment of Mr. S. Ganesh Kumar as an Independent Director. The bank announced this regulatory compliance through newspaper advertisements published in Hindu Business Line (English) and Makkal Kural (Tamil) on March 19, 2026, as disclosed in its filing to stock exchanges.

Postal Ballot Process and Timeline

The remote e-voting process is being conducted exclusively through electronic means, with no physical postal ballot forms being distributed to shareholders. The comprehensive voting timeline has been established as follows:

The bank has appointed National Securities Depository Limited (NSDL) as the service provider for the remote e-voting facility. Shareholders whose names appear in the Register of Members or List of Beneficial Owners as on the cut-off date and have registered email addresses are eligible to participate in the voting process.

Director Re-appointment Details

The postal ballot seeks approval for a special resolution regarding Mr. S. Ganesh Kumar's re-appointment for a second term. His current tenure details and proposed re-appointment are outlined below:

Regulatory Compliance and Publication

As per the regulatory filing dated March 19, 2026, the bank has fulfilled its obligation under Regulation 30 of the SEBI Listing Regulations by publishing the postal ballot notice in newspapers. The notice is also available on the bank's website at www.idfcfirst.bank.in , stock exchange platforms (BSE and NSE), and NSDL's e-voting portal.

The postal ballot notice complies with provisions of the Companies Act, 2013, SEBI Listing Regulations, and incorporates recent RBI directions regarding commercial bank governance. Ms. Manisha Maheshwari and Mr. Saurabh Somani from M/s. Bhandari & Associates have been appointed as scrutinizers for the voting process.

Director Profile and Board Participation

Mr. S. Ganesh Kumar, aged 66 years, brings extensive experience from his tenure as Executive Director at the Reserve Bank of India. His active participation in board activities is reflected in his attendance record:

The re-appointment aligns with regulatory requirements and has been recommended by the bank's Nomination and Remuneration Committee and Board of Directors based on performance evaluation results and continued fulfillment of independence criteria.