IDFC Bank Lists Shares on BSE and NSE

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 IDFC BANK.

Present on the occasion were Dr. Rajiv B. Lall, Managing Director & CEO, IDFC Bank, Mr. Anil Baijal, Non-Executive Chairman, IDFC Bank and Mr. Ashish Kumar 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.

About IDFC Bank:

IDFC Bank is a subsidiary of India’s leading integrated infrastructure finance company, IDFC Ltd (NSE: IDFC). Headquartered in Mumbai, IDFC Bank is a universal bank, offering financial solutions through its nationwide branches, internet (www.idfcbank.com) and mobile. Envisioned as a new age bank, IDFC Bank seeks to set a new standard in customer experience, using technology and a service-oriented approach, to make banking simple and accessible, anytime and from anywhere. In keeping with IDFC’s legacy of building the nation, IDFC Bank will focus on serving the rural underserved communities and the self-employed, while continuing to support the country’s infrastructure sector. IDFC Bank provides customized financial solutions to corporates, individuals, small and micro-enterprises, entrepreneurs, financial institutions and the government. With best-in-class corporate governance, rigorous risk management, experienced management and a diversified team, IDFC Bank is uniquely positioned to meet the aspirations of its customers and stakeholders.

For further information: Visit -- www.idfcbank.com