IDFC Bank debuts at Rs 70.50 on NSE

Shares of IDFC Bank have listed at Rs 70.50 on the National Stock Exchange (NSE). At 10:01, the stock was trading at Rs 71.70 after hitting a high of Rs 73.40 post listing.

A combined 4.22 million shares changed hands on the counter on the NSE and BSE.

Shareholders of IDFC, whose names appeared in its books on October 5, have been given an equal number of shares in IDFC Bank as held in IDFC.

On October 1, IDFC had transferred all assets and liabilities of its lending business (financing undertaking) to IDFC Bank and simultaneously launched the bank.

The private sector lender IDFC Bank, which started its banking operations last month, had said its networth stands at Rs 13,322 crore. In an email sent to its shareholders it also said the bank had a balance sheet size of Rs 73,447 crore.

The lender launched its banking operations with 23 branches out of which 15 are rural branches in Madhya Pradesh. IDFC also stated that the book value of IDFC share is Rs 60.10 and that of IDFC Bank share is Rs 39.11.