IDFC First Bank's share price increased nearly 2% in response to the block deal news
The Indian government and LIC currently hold approximately 95 % of the bank's shares.
The bank can increase the stake in the insurance firm through one or more tranches by August 31, 2024
Dipak Gupta, the joint managing director, will assume the duties of the MD and CEO till December 31.
The investment firm currently holds around 2.18% remaining stake in Zomato, which it intends to sell through block deals in the coming months
The directors' tenure is set for three years, spanning from June 26, 2023, to June 25, 2026.
The funds will be used for onward lending in operational areas, aiding credit access for EWS/LIG home buyers.
The plan involves raising funds within a limit of Rs 5,000 crore by issuing equity shares through QIP
The three banks facing penalties are Walchand Nagar Sahakari Bank based in Pune, Dahanu Road Janata Co-operative Bank Ltd of Maharashtra, and Devika Urban Co-operative Bank Ltd in Jammu and Kashmir
The rupee had concluded Monday's session at 83.11 against the dollar
Invest wise with Expert advice
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
Download The App Now
Follow us on
2025, IIFL Capital Services Ltd. All Rights Reserved
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.
