IDFC shares fell 49 per cent on Thursday as they went ex-bank. Its shares opened at Rs 69.15 on the National Stock Exchange compared to its closing price of Rs 141.05 on Wednesday.
IDFC's banking arm IDFC Bank got demerged from the infra lender with effect from today. Its banking arm also starts operation from today. Existing shareholders of IDFC will get one share of IDFC Bank for every share held by them.
IDFC Bank shares will be listed separately on the exchanges on November 6, 2015. (For more details :Read here)
Following the demerger, IDFC's subsidiary holding company IDFC Financial Holding will hold 53 per cent stake in the banking arm while the rest 47 per cent will be owned directly by IDFC shareholders.
Book value of demerged IDFC is Rs 59.85 per share, the company said in a filing to exchanges.
IDFC had fixed October 5 as the record date for the scheme of demerger of IDFC Bank from IDFC. The Reserve Bank of India had granted banking licence to IDFC on July 23, 2015.
IDFC shares closed at Rs 60.80 on the NSE compared to its opening price of Rs 69.15 on Thursday.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
