IDFC Bank turns red after Sipadan Investments’ divestment
DSIJ Intelligence / 30 Nov 2016
The share price of IDFC Bank dipped by over four per cent on the bourses in early trades and is trading at Rs 68.3 on intra-day basis. The share price dropped after more than 2 per cent equity of the bank changed hands through block deals.
The share price of IDFC Bank dipped by over four per cent on the bourses in early trades and is trading at Rs 68.3 on intra-day basis. The share price dropped after more than 2 per cent equity of the bank changed hands through block deals. About 1.053 crore shares or 3.1 per cent of total equity of the bank was traded on the NSE and BSE.
As of November 18, 2016, Sipadan Investments (Mauritius) held 9.06 crore or 2.67 per cent stake in IDFC Bank. It had received these shares after the demerger of the bank from IDFC. The Malaysian sovereign wealth arm had bought 8.97 per cent stake in IDFC in March 2007 through a similar block deal incidentally also brokered by UBS on behalf of Swiss Finance Corporation.
National Westminster Bank PLC, as depository of FIR, held 2.6 per cent stake, while Platinum International Fund and Orbis Sicav Ex-Japan Equity Fund held 1.27 and 1.02 per cent stake respectively in IDFC Bank.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.