IDFC Bank shares that demerged from IDFC got listed on the bourses on Friday at an opening share price of Rs 70.50 on both BSE and NSE.
IDFC Bank has been carved out as the country’s newest bank after it demerged from infrastructure financing firm IDFC Ltd. Rajiv Lall is the MD and CEO of IDFC Bank.
Promoters hold 53 per cent stake in IDFC Bank, whereas institutional investors have 43.80 per cent and others hold 13.20 per cent stake as of Oct 27, 2015.
In a BSE filing on October 29, IDFC said, “IDFC Bank is starting its journey with a balance sheet of Rs 73,447 crore and a networth of Rs 13,322 crore. The book value of IDFC Bank share is Rs 39.11.”
IDFC Bank comprises three distinct business i.e. commercial and wholesale bank, rural bank and personal and business bank. The bank’s strategy and effort is to create a universal bank in 5-7 years with three business well established,
IDFC Bank has launched with 23 branches. Of these, 15 are rural branches in Hoshangabad, Khandwa and Harda districts of Madhya Pradesh, the rest being spread across urban locations.
At NSE,the share price was trading Rs 70.50 at 10.11 am.