Friday, 30 October 2015

IDFC Bank shares may list for trading on November 6; Stock Cash Market Tips

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"Shareholders will have to wait for IDFC Bank shares to list and trade to evaluate the value of their combined IDFC and IDFC Bank shareholding"

IDFC said that shares of its newly launched IDFC Bank are expected to list and trade on November 6.

"Post demerger, the networth of IDFC is Rs 9,580 crore and its portfolio of businesses include 53 percent stake in IDFC Bank, 75 percent stake in IDFC Asset Management Company, 100 percent stake in IDFC Securities, 100 percent stake in IDFC Alternatives," it said. 

Besides, the company said its 100 percent stake in IDFC Infrastructure Debt Fund will be brought down to 49 percent over a period of time. The Reserve Bank had granted IDFC Ltd a universal banking licence in July.

IDFC shares are now trading ex-bank and IDFC Bank shares are not yet listed and traded. The email also stated that IDFC Bank is starting its journey with a balance sheet of Rs 73,447 crore and a networth of Rs 13,322 crore. The book value of IDFC share is Rs 60.10 and that of IDFC Bank share is Rs 39.11. IDFC Bank comprises three businesses -- commercial & wholesale bank, rural bank and personal & business bank.

IDFC stock price: On October 30, 2015, at 10:20 hrs IDFC was quoting at Rs 58.80, up Rs 0.30, or 0.51 percent. The 52-week high of the share was Rs 187.50 and the 52-week low was Rs 58.30. 

The company's trailing 12-month (TTM) EPS was at Rs 9.27 per share as per the quarter ended June 2015. The stock's price-to-earnings (P/E) ratio was 6.34. The latest book value of the company is Rs 106.21 per share. At current value, the price-to-book value of the company is 0.55.

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