IDFC Bank debuts on bourses

IDFC Bank, the country's newest lender, listed on the bourses on Friday. The stock was listed at Rs 70.50 on the BSE and finally ended at Rs 70.70, up 0.28 per cent from the opening price. In intra-day trades it touched a high of Rs 73.45 and a low of Rs 67.

At NSE, it touched a high of Rs 73.40 and a low of  Rs 67  but finally ended at Rs 70.40

“The listing underlines the energy driving IDFC Bank, its growth ambitions and the transparency it intends to bring to investors. The Bank is committed to creating superior customer experience through a service-oriented approach and technology that makes banking smarter, simpler and more efficient,” said Rajiv Lall, managing director & CEO, IDFC Bank.

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

Private sector lender IDFC Bank, which started its banking operations last month, had said its net worth 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 on October 1 with 23 branches, of which 15 are rural branches in Madhya Pradesh.