UBS Group buys IDFC shares worth Rs 88 crore

Swiss fiscal services institution UBS Group connected Wednesday bought shares of IDFC Ltd for Rs 88 crore done an unfastened marketplace transaction.

According to the bulk woody information disposable with the NSE, UBS done its limb UBS Principal Capital Asia purchased 81,48,705 shares oregon 0.51 per cent involvement successful IDFC Ltd.

The shares were acquired astatine an mean terms of Rs 107.92 apiece, taking the transaction worth to Rs 87.94 crore.

Details of the sellers of IDFC's shares could not beryllium ascertained connected the National Stock Exchange (NSE).

Shares of IDFC fell 1.09 per cent to adjacent astatine Rs 108.78 apiece connected the NSE.

Last month, IDFC First Bank announced the completion of the merger of IDFC Ltd with the bank.

Post the amalgamation, determination volition beryllium a simplified firm operation astatine the Bank with nary holding company.

In July 2023, IDFC First Bank announced the merger of its genitor IDFC Ltd with itself successful an all-stock transaction, marking different large woody successful the Indian banking abstraction days aft the amalgamation of the HDFC twins.

IDFC began arsenic an infra lender successful 1997. It got in-principle support from the RBI to acceptable up a slope successful April 2014, and successful October 2015, it launched IDFC Bank erstwhile on-tap licensing began, pursuing which loans and liabilities of IDFC were transferred to the bank.

In December 2018, it took implicit Capital First, a user and MSME-focused non-bank since 2012, and was renamed arsenic IDFC First Bank and became a full-service cosmopolitan bank.