IDFC FIRST Bank announced that the Bank's Managing Director and Chief
Executive Officer, V. Vaidyanathan, has sold 2,75,58,412 shares on 19th March 2020 for approximately Rs. 58 crore to close ESOP loan availed by him. He intends to sell about Rs. 35 crore worth of stocks today on 20 March 2020 to entirely repay the residual ESOP Loan taken for exercising his ESOP shares to release his pledged shares. He has explained that with this sale he will have NIL ESOP Loan, and will not need to sell any more shares in the foreseeable future.
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