Mumbai: IDFC Bank Ltd., subsidiary of IDFC Ltd, the country’s leading integrated infrastructure finance company, today listed its shares on the Bombay Stock Exchange (BSE) under the scrip ID 539437 and on National Stock Exchange (NSE) under the symbol IDFCBANK.
Present on the occasion were Mr. Anil Baijal, Non-Executive Chairman, IDFC Bank, Dr. Rajiv B. Lall, Managing Director & CEO, IDFC Bank, Mr. Deepak Parekh, Chairman of HDFC Ltd. & first Chairman of IDFC Ltd. and Mr. Ashishkumar Chauhan, MD & CEO, BSE.
IDFC Bank secured the approval to list its shares from the two stock exchanges in the first week of November.
“The demerger and the subsequent listing of IDFC Bank is a significant milestone in the life of IDFC,” said Dr. Lall, in reference to the Bank’s morning listing, adding, “IDFC’s journey in infrastructure financing has seen remarkable success, thanks to the trust our investors placed in us. IDFC Bank will continue to strive towards building exceptional value for investors, while remaining true to its legacy of serving the nation.”
“The listing underlines the energy driving IDFC Bank, its growth ambitions and the transparency it intends to bring to investors. The Bank is committed to creating superior customer experience through a service-oriented approach and technology that makes banking smarter, simpler and more efficient,” Dr. Lall said.
The Reserve Bank of India granted a universal banking license to IDFC Limited on July 23, 2015. IDFC Ltd. demerged on October 1, 2015, transferring all assets and liabilities of its lending business (“Financing Undertaking”) to IDFC Bank Limited.
IDFC Bank has started its journey with a balance sheet of Rs 73,447 crore and a net worth of Rs 13,322 crore. The book value of IDFC Bank share is Rs 39.11.
Shareholders of IDFC as on the record date i.e. October 5, 2015, as per the scheme of demerger approved by the Madras High Court, have received an equivalent number of IDFC Bank shares (free of cost). IDFC shares are now trading ex-bank.
IDFC Bank started operations on October 1, 2015, with 23 branches across India, 15 of which are spread across three districts of Madhya Pradesh. It was formally inaugurated on October 19, 2015, by Prime Minister Shri Narendra Modi in New Delhi, along with Finance Minister Shri Arun Jaitley, and Minister of State for Finance Shri Jayant Sinha.
The Bank’s business units include Bharat Banking, Personal and Business Banking and Commercial and Wholesale Banking. With a legacy of funding the country’s key infrastructure projects, IDFC Bank has the DNA of a lending institution, actively supporting the growth of the nation.
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