IDFC First Bank s shares dipped 3.5% as Warburg Pincus exited through block deals. The bank reported an 18.4% growth in net profit for the quarter, with investors clocking returns at 43% in the last one year.
IDFC First Bank block deal: A total of 17.80 crore IDFC First Bank shares worth 1,340 crore changed on BSE, which was 88 times its average two-week average volumes. On NSE, Rs 579.59 crore worth bank shares changed hands.
Cloverdell Investment, an affiliate of Warburg Pincus, offloaded 15.9 crore shares at Rs 75.24/, according to bulk deals data on the BSE. On Thursday, the stock ended 3% lower on the BSE at Rs 75.39.
Warburg Pincus affiliate Cloverdell Investment may offload 15.9 crore shares. The floor price is set at Rs 75 apiece. Cloverdell is hoping to rake in Rs 1,191.40 crore through the sale, reports said.