New Delhi: Shares of IDFC jumped as much as 19 per cent during the trading session on Thursday after the Reserve Bank of India (RBI) allowed it to exit as the promoter of IDFC First Bank.
In a regulatory filing made to the BSE, IDFC said that the RBI on July 20 clarified that “after the expiry of the lock-in period of 5 years, IDFC Limited can exit as the promoter of IDFC First Bank Limited.”
Shares of IDFC jumped 19 per cent to Rs 62.60. However, the counter was trading at Rs 59.70 at 10.45 am. BSE Sensex was trading 607.55 points or 1.16 per cent at 52,806.06 at the same time. The scrip settled at Rs 52.75 in the previous trading session.
The company can now exit as promoter of IDFC First Bank, as the five year lock-in period has ended. IDFC Bank was created by the demerger of the infrastructure lending business of IDFC to IDFC Bank in 2015.
