For Quick Alerts
For Daily Alerts

IDFC fixes Oct 5 as record date for De-merger

By Religare

Infrastructure financing firm IDFC Ltd said that it has fixed October 5 as record date for share transfer as part of de-merger scheme.

"Pursuant to the de-merger scheme, IDFC Bank will allot shares of IDFC Limited, whose name is recorded in the Register of IDFC Limited as on the record date, one equity share having a face value of Rs 10 each of IDFC Bank Limited for every one equity share held by them in IDFC Limited, each equity share being fully paid-up," the company said in a filing to the Bombay Stock Exchange.


The firm has fixed record date as October 5 for the purpose of entitlement of shares of IDFC Bank Limited, it added.

With the de-merger of financial undertaking from IDFC Ltd, IDFC Bank will kick-start its lending operations from October 1, 2015.

The transfer of business to the new bank should coincide with commencement of banking business, it had said last month.

RBI had granted license to IDFC Bank on July 23, 2015.

Meanwhile, shares of the company were trading at Rs 137.10 a piece, down 2.11 per cent from the previous close at 10:12 hours on BSE.

Story first published: Tuesday, September 22, 2015, 12:20 [IST]
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'


We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more