IDFC share price hits NEW HIGH, jumps near 19% as RBI allows it to exit as IDFC First Bank promoter

Touching a new 52-week high on Thursday, the shares of IDFC jumped 19 per cent to Rs 62.60 on the BSE intraday trade, as the Reserve Bank allowed it to exit as the promoter of IDFC First Bank. 

The scrip of non-banking finance company breached its earlier life high of Rs 60.25 hit on May 25, 2021. While the counter on Thursday closed around 12 per cent higher to Rs 59.05 per share, as compared to a 1.22 per cent rise in the S&P BSE Sensex at market close.

See Zee Business Live TV Streaming Below:

The NBFC on Wednesday in its filing to the BSE said, “The RBI has allowed it to exit as the promoter of IDFC First Bank as the five-year lock-in period expires.”

IDFC currently owns a 100 per cent stake in IDFC Financial Holding Company, which, in turn, holds 100 per cent in IDFC Asset Management and 36.6 per cent in IDFC First Bank. The IDFC Bank was created by the demerger of the infrastructure lending business of IDFC to IDFC Bank in 2015.

The trading volumes on the counter are more-than-doubled, with a combined 51.8 million shares changed hands on the NSE and BSE so far. 

Similarly, the shares of IDFC First Bank also jumped 4 per cent at Rs 53.25 per share on the BSE intraday trade today, which is also a day’s high level. The counter ended around 2 per cent higher to Rs 52.15 per share on the BSE.