IDFC First Bank Merger: Bank Stock Drop Due to Swap Ratio

IDFC First Bank and IDFC Ltd Merger meeting held, July 03, 2023. The Share Exchange Ratio for the amalgamation of IDFC Limited into and with IDFC FIRST Bank shall be 155 equity shares (credited as fully paid-up) of face value of ₹ 10/- each of IDFC FIRST Bank for every 100 fully paidup equity shares of face value of ₹ 10/- each of IDFC Limited.

IDFC Ltd Shareholders will get 155 IDFC First Bank Share which is 16% Premium Price. Due to that Today on 4th July 2023, We have seen 5% Stock Price Drop of IDFC First Bank While IDFC Ltd Share Increase by 1%.

As of June 30, 2023, IDFC Limited is the main promoter of having 39.93% shareholding of IDFC FIRST Bank.

IDFC First Bank Gave 132% Return in Last 1 Year.