IDFC Bank slips 4 per cent after Malaysia's Khazanah Nasional unit sells shares

NEW DELHI: Shares of IDFC Bank declined nearly 4 per cent in on Wednesday after reports that a unit of Malaysia’s Khazanah Nasional raised about Rs 540 crore by selling 80.4 million shares of the bank for Rs 68.25 each in a block deal.

The scrip ended the day at Rs 68.60, down 3.45 per cent from the previous close. Shares of the company opened the day at Rs 69.75 and touched a high and low of Rs 69.85 and Rs 68, respectively.

For the quarter ended September 30, 2016, the company reported a consolidated net profit of Rs 387.76 crore against Rs 59.63 crore reported for the corresponding quarter last year. The bank reported total net interest income of Rs 495.59 crore for the quarter.


On a year-to-date basis, shares of the company have risen 16.76 per cent to Rs 71.05 till November 29. The scrip was trading at Rs 60.85 on January 1.

As of November 18, 2016, promoter holding in the bank stood at 52.94 per cent, while public holding stood at 47.06 per cent.