Buy IDFC; target of Rs 42: ICICI Direct

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26 Aug, 2025 12:21

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ICICI Direct's research report on IDFC

In 2014, IDFC Ltd received a license to set up a universal bank – IDFC Bank. To strengthen retail franchise, IDFC Bank, Capital First Ltd engaged in a merger to form IDFC First Bank in December 2018. Currently, IDFC Ltd holds 40% stake in IDFC First Bank. Apart from banking, IDFC Ltd owns a Mutual Fund (100% owned). Its AUM stands at Rs 103893 crore of which equity AUM – Rs 29609 crore as of March 2020).

Outlook

In 2014, IDFC Ltd received a license to set up a universal bank – IDFC Bank. To strengthen retail franchise, IDFC Bank, Capital First Ltd engaged in a merger to form IDFC First Bank in December 2018. Currently, IDFC Ltd holds 40% stake in IDFC First Bank. Apart from banking, IDFC Ltd owns a Mutual Fund (100% owned). Its AUM stands at Rs 103893 crore of which equity AUM – Rs 29609 crore as of March 2020).

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