IDFC up over 20% over last two trading sessions on buzz of stake sale

Lock-in period for stake in bank expires on Sept 30, AMC arm seeing steady growth

The share price of IDFC -- holding company for IDFC First Bank and sponsor for IDFC Asset Management Company (AMC) -- has seen a spike of 22 per cent over the last two days amid market buzz that the holding company could see value unlocking in the two companies in the near-term.

“There has been buzz that IDFC could monetise its stake in IDFC First Bank as the lock-in period will end in few months. Also, the stock has been trading at attractive valuations,” said Deven Choksey, managing director of KR Choksey Investment Managers.

The lock-in period for IDFC to