NSE Symbol: IDFC | BSE Code: 532659
Stock Trends 2017-2018
The IDFC Share price saw a 52 week high of Rs 67.80 and 52-week low of Rs 35.55. 2018 started with Rs61.60 and till October it came down to Rs38.75.
2017 started with Rs 56.85 and the scrip came down to Rs 53.75 by the year-end.
Information About IDFC Bank:
IDFC Limited or Infrastructure Development Finance Company Limited is a financial concoction and is registered with Reserve Bank of India as an NBFC. It is a holding company and majorly holding an investment in IDFC Financial Holding Company Limited (IDFC FHCL) which is an inactive holding company. IDFC FHCL has invested in IDFC Asset Management Company Limited, IDFC Alternatives Limited, IDFC Securities Limited, IDFC Bank, and IDFC Infrastructure Finance Limited. The principal subsidiary of IDFCs is IDFC Bank. Besides banking, the bank has also invested in various businesses of financial services such as Asset Management (both in public and private markets), Infrastructure Debt Fund and Institutional Broking & Research. All the activities are carried out through independent subsidiaries. The IDFC carry all the investments under IDFC Financial Holding Company Limited. The IDFC Bank was incorporated on January 30, 1997, as a public limited company with their registered office in Chennai. The DEA, Ministry of Finance established an expert group on the Commercialization of Infrastructure Projects in recognition of the need to develop the infrastructure of the country, under the supervision of Mr.Rakesh Mohan. The group investigated the existing infrastructure status of the country, along with the state of corporate debt market to offer long-term funds to infrastructure projects, and recommended about the specialized financial intermediary requirement for funding the infrastructure projects. It led to the incorporation of IDFC Bank. The company commenced their operations on June 9, 1997. The company registered with the RBI as a Non-Banking Financial Company (NBFC) in the year 1998. The company was recognized as Public Financial Institution in the year 1999. In the year 2000, the company got registered as a merchant banker with the Security Exchange Board of India (SEBI) and as an underwriter. Subsequently, in the year 2001, the company was registered with the SEBI as a debenture trustee. Also, the company had set up as Infrastructure Development Corporation (Karnataka) Ltd according to a shareholders agreement between the IDECK, the governor of the State of Karnataka, HDFC and the IDFC Bank. In the year 2002, the company was incorporated as IDFC Asset Management Company Ltd as a subsidiary of the company. Also, a joint venture namely Uttaranchal Infrastructure Development Company Ltd was consolidated with the Government of Uttarakhand.
Listings and acquisitions of IDFC Bank stocks:
In 2003, India Development Fund was created, in which the IDFC Bank was a sponsor investor. In August 2005, the equity shares of the company were listed on NSE and BSE according to an IPO. In the year 2006, the company had successfully raised $450 million for their second infrastructure-focused private equity fund. The company has entered into a MoU with SBI Capital Markets Ltd for the syndication of debt financing for the infrastructure projects. During the year 2006-07, the company soared their stake in NSE of India Ltd to 8.2% by attaining an additional 6% stake in the company. The IDFC Bank has also obtained 8.71% stake in the Asset Reconstruction Company (India) Ltd. The IDFC along with the India Infrastructure Finance Company Ltd, Citigroup, and the global private equity player, Blackstone, took an initiative of USD 5 billion for financing the infrastructure projects in India. During the same year, the company has also set up IDFC Project Equity Company Ltd to manage the proposed USD 2 billion third-party equity component of the Indian Infrastructure Initiative. The bank has acquired a 33.33% stake in SSKI Securities Pvt Ltd (SSKI), which is a mid-size investment bank, along with the membership of the BSE and the NSE. The company entered into asset management by taking over the AMC business of Standard Chartered Bank in India in May 2008, namely Standard Chartered Asset Management Company Pvt Ltd and Standard Chartered Trustee Company Pvt Ltd and the companies acquired were re-branded as the IDFC AMC Pvt Ltd and IDFC Asset Management Trustee Company Pvt Ltd respectively. The IDFC - SSKI Ltd acquired 100% of equity shares of IDFC Capital Pte Ltd, a company established in Singapore for an emerging markets private equity fund-of-funds business during the year 2008-09. During the same year, the company became a part of Nifty 50.
The company has consolidated their position as the leading specialist infrastructure finance company of the country and also as one of the largest financiers of infrastructure in the country during the year 2009-10. The company soared their equity stake from 80% to 100% in IDFC Securities Ltd. Also, the IDFC Bank along with their entirely owned subsidiary subscribed for 100% equity shares of IDFC Pension Fund Management Company Ltd. The wholly-owned subsidiary of the company, IDFC Projects Ltd acquired 51% of equity shares of Dheeru Powergen Private Ltd in the same year. IDFC Projects Ltd signed a MoU with Gujarat State Energy Company Ltd and BHEL in January 2009, to establish a 1600 MW Thermal Power plant at Sarkhadi based on supercritical technology. Also, another MoU was signed with Government of Gujarat to establish a 10 megawatt Solar Power Project. The Jetpur Somnath Highway Ltd (previously known as IDFC Capital Company Ltd and a direct subsidiary of IDFC) became an ancillary of IDFC Projects Ltd, during the year 2010-11. The IDFC Projects, along with the other organizations, further floated Dheeru Powergen Ltd, which was changed from Pvt.Ltd Company to a Public Limited Company. The IDFC Asset Management Company Ltd also floated the IDFC Pension Fund Management Ltd appointed by PFRDA, to manage the retirement funds under the New Pension Scheme (NPS) which were open to the individuals of the private sector. A company under IDFC Investment Management (Mauritius) Ltd was incorporated as an ancillary of IDFC Asset Management Company Ltd. During the same year, the IDFC Foundation (a Non- Profit Organisation) was incorporated as an entirely owned subsidiary of IDFC.
On 3 June 2011, the IDFC and Khazanah agreed to enter into a venture for setting up an infrastructure development company with a dedicated focus on road sector in India. The Khazanah would hold 80.1% of the equity share capital in the joint venture, and IDFC would maintain the balance as per the proposal. The Khazanah and IDFC also proposed to invest in convertible instruments issued by the joint venture. The first investment of this joint venture was made in Jetpur Somnath Tollways Limited (JSTL), subjected to receipt of required regulatory approvals and permissions, including those from the NHAI. The Khazanah is the investment holding arm of the Malaysian government entrusted to manage the assets held by the Government. The company announced a joint venture with Export Development Canada (EDC).On 22 February 2012, the IDFC informed the stock exchanges about the filing of Circular with the Singapore Exchange Securities Trading Limited (the SGX-ST) for the listing of notes to be issued according to the company's US$ 1,500,000,000 (or its equivalent in other currencies) Medium Term Notes Programme (MTN). With effect from 20 July 2012, the name of the company was changed from Infrastructure Development Finance Company Limited to IDFC Limited. IDFC Ltd announced the operationalization of DFID-IDFC loan programme which will support the infrastructure projects in the low-income states of India on 18 March 2014. The programme was introduced in October 2013. On 9th April 2014, the IDFC was provided an in-principle approval by RBI to set up the new bank in the private sector under the ambit of Section 22, Banking Regulation Act, 1949. Accordingly, a new company namely IDFC Bank was incorporated on 21 October 2014 at Chennai, Tamil Nadu, with a paid up capital of Rs 5 lakh, under the Companies Act, 2013 to carry out the banking business. As per the terms and conditions in the in-principle approval and the RBI New Banking Guidelines, the IDFC was required to transfer financial undertaking to IDFC Bank. On 30th October 2014, accordingly, the Board of Directors of IDFC at its meeting approved a proposal to demerge the financing undertaking into its wholly owned step down subsidiary of IDFC Bank under a Demerger Scheme. On December 26th, 2014, the entire equity stake of IDFC Bank was transferred to the IDFC FHL, thereby making IDFC Bank, an entirely owned subsidiary of IDFC FHCL, which in turn, is a wholly owned subsidiary of IDFC. On 31 July 2015, the IDFC announced the plans to take additional provisions of approximately Rs 2500 crore in Q2 September 2015, ahead of its transition into a bank. On 20 August 2015, the IDFC declared that it has entered into the non-binding LOI with Dilip S Shanghvi and Telenor Financial Services for setting up a payment bank wherein IDFC and its affiliates would hold a19.99% stake. The Dilip S Shanghvi is one of the successful applicants who has been awarded the in-principle approval by the RBI for setting up the Payment Bank. On 31 December 2016, the IDFC AMC is a well established SEBI registered Mutual Fund house in India, sponsored by IDFC, with average AUM of about Rs 57998 crore. On 8th July 2017, the IDFC Group and Shriram Group signed an exclusivity agreement to allow the due diligence and discussions to arrive at a deal on a transaction structure and swap ratio for a strategic combination between certain businesses of the Shriram Group with IDFC Limited and IDFC Bank. However, despite best efforts, the two groups were not able to reach an agreement on a mutually acceptable swap ratio. Accordingly, the exclusivity period was terminated with effect from 30 October 2017.
On 28 April 2018, IDFC announced that IDFC Alternatives Limited, a wholly owned step down subsidiary of IDFC through IDFC Financial Holding Company Limited, has agreed with Global Infrastructure Partners for the sale of its asset management business. This sale will conclude on the receipt of the requisite regulatory approvals as applicable. The IDFC Alternative will continue to manage Private Equity, and Real Estate funds and the sale mentioned above to Global Infrastructure Partners India will not have any impact on its Private Equity and Real Estate verticals.
How can you purchase IDFC Bank shares?
IDFC Bank shares can be purchased from NSE (National Stock Exchange) as well as from BSE (Bombay Stock Exchange). All the details regarding the stock price, PE ratio, earlier closings and other metrics that can determine the stocks of IDFC Bank can be found on the websites of
The registered office of IDFC Bank is at KRM Tower, 7th Floor, No. 1, Harrington Road, Chennai (Madras), Tamil Nadu - 600031.