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IDFC Bank on Friday allotted 159.40 crore shares to 49.21 lakh shareholders of IDFC Ltd according to the demerger scheme.
The bank’s shares were allotted to those holding the stock of the infrastructure financing firm on the record date October 5.
In a regulatory filing, IDFC Bank said the decision for allotment was taken at a meeting on Friday.
The ratio of allotment is one share of face value ₹10 each of IDFC Bank for every one share held by shareholders in IDFC, it said.
IDFC Bank went live on October 1 with a “soft launch” at 23 locations, including 15 branches in rural Madhya Pradesh, becoming the 91st scheduled commercial bank in the country.
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