IDFC First Bank’s Managing Director (MD) and Chief Executive Officer (CEO) V Vaidyanathan has sold 2.75 crore shares for approximately Rs 58 crore to close Employee stock option plan (ESOP) loan availed by him on March 19, 2020. Vaidyanathan intends to sell about Rs 35 crore of stocks on March 20, 2020 to entirely repay the residual ESOP loan taken for exercising his ESOP shares to release his pledged shares.
IDFC First Bank provides a range of financial solutions to individuals, small businesses and corporates.
