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IDFC First Bank informs about acquisition

11 Sep 2023 Evaluate
In compliance with disclosure requirements of Regulation 30 of SEBI LODR, IDFC First Bank has informed that GQG Partners has acquired 5,07,39,653 equity shares of the Bank from V. Vaidyanathan, MD & CEO of the Bank in a block trade transaction, and the Bank has been duly informed that the proceeds of the sale net of STT and other brokerage charges of Rs 478.7 crore will be utilized for subscribing to fresh shares of the Bank through exercise of options, for payment of related income tax and for contributing to specific pre-committed social causes.

The above information is a part of company’s filings submitted to BSE.

Peers
Company Name CMP
HDFC Bank 714.20
ICICI Bank 1360.20
Axis Bank 1269.00
Kotak Mahindra Bank 439.00
Indusind Bank 876.00
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