Overview
- Issuance approved for up to 272.97 million convertible warrants at Rs 227 each with 25% paid upfront, 75% at conversion, and an 18‑month exercise window in tranches.
- An extraordinary general meeting on November 19 will seek shareholder consent, with RBI and CCI clearances required before any conversion proceeds.
- Upon full exercise, Blackstone’s Singapore affiliate could own up to 9.99% and gain a right to nominate one retiring non‑executive director if it holds at least 5% post‑conversion.
- Shares saw a modest uptick after the announcement, while brokerages estimate CET‑1 could rise by roughly 200–280 basis points with limited EPS dilution after conversion.
- Reports indicate the investment would make Blackstone the bank’s largest shareholder, reinforcing a 2025 trend of sizable foreign stakes in Indian private lenders.