Shares of infrastructure financing firm IDFC today rose by over 2 per cent after the company said that it has received shareholders approval for its demerger scheme to set up a wholly-owned subsidiary IDFC Bank.
The stock ended the day with a gain of 2.26 per cent at Rs 176.20 on the BSE. Intra-day, it climbed 3.74 per cent to Rs 178.75.
At the NSE, the scrip went up by 2.06 per cent to close at Rs 175.80.
In terms of volume, 17 lakh shares of the company changed hands at the BSE and over one crore shares were traded at the NSE during the day.
IDFC today said it has received shareholders approval to its demerger scheme to set up a wholly-owned subsidiary IDFC Bank.
The scheme was earlier approved by the Reserve Bank and board of directors of IDFC.
"The...Shareholders have unanimously approved the scheme of arrangement among IDFC and IDFC Bank and their respective shareholders and creditors," IDFC said in a BSE filing.
In April last year, IDFC bagged licence from the RBI to set up a bank.
