IDFC Bank dips after huge block deals

The stock dipped 4% to Rs 68.15 on the NSE in intra-day trade after more than 2% equity of IDFC Bank changed hands through block deals

IDFC Bank has dipped 4% to Rs 68.15 on the National Stock Exchange (NSE) in intra-day trade after more than 2% equity of the bank changed hands through block deals.

Around 8.33 million shares representing 2.5% of total equity of IDFC Bank have changed hands via block deal on the NSE. LINK

Till 10:28 am; a combined 10.53 million shares or 3.1% of total equity of the bank was traded on the NSE and BSE.

As of November 18, 2016, Sipadan Investments (Mauritius) held 9.06 million or 2.67% stake in IDFC Bank, the shareholding pattern data shows.

National Westminster Bank PLC as depository of FIR held 2.6% stake, while Platinum International Fund and Orbis Sicav Ex-Japan Equity Fund held 1% stake each in IDFC Bank, data shows.