De-merger listing: IDFC Bank debuts at Rs 72 on NSE

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Demerged wing of IDFC, IDFC Bank is listed at the bourses today. The stock opened at Rs 72 per share, with pre-opening price at Rs 70.50 on the National Stock Exchange. IDFC holds 53 percent in the bank arm post-demerger. Shares of IDFC fell 5 percent intraday. Shareholders of IDFC, whose names appeared in its books on October 5, have been given an equal number of shares in IDFC Bank as held in IDFC.

On October 1, IDFC had transferred all assets and liabilities of its lending business to IDFC Bank and simultaneously launched the bank.Post demerger, the networth of IDFC is Rs 9,580 crore and its portfolio of businesses include 53 percent stake in IDFC Bank, 75 percent stake in IDFC Asset Management Company, 100 percent stake in IDFC Securities, 100 percent stake in IDFC Alternatives.

At 10:15, IDFC Bank was at Rs 68.75 on the NSE.Posted by Nasrin Sultana