IDFC First Bank has raised INR1,500 crore ($201m) in subordinated, unsecured, fully paid-up, Basel III compliant tier-2 bonds in the domestic Indian bond markets. The capital raise would aid in expanding the bank while boosting capital adequacy, which will increase the bank's headroom for growth. With calls available in ten years, the yields on the bonds were offered at 8.4%. The bond placement was oversubscribed with a large demand from PFs, corporates, and insurance companies interested.