IDFC Bank makes an Exchange Debut on BSE today listing at @ Rs 70 & after a High of Rs 73.45 and a Low of Rs 67 closing too at @ Rs 70 with volumes of 4.3 million shares
What’s it Worth ?
Well the Market Cap is @ Rs 23876 crs at Rs 70.40 Share Price
Just to recall ~ IDFC received the RBI in-principle approval on April 9,2014 to set up a Bank in the Private Sector
It began the process to do so with the Scheme of Demerger being approved by the Madras High Court on June 25,2015 with every IDFc Shareholder getting 1 share in IDFC Bank for every share held in IDFC
IDFC Bank was incorporated on October 21,2014
It got listed today at @ Rs 70 with an Equity Capital of Rs 3391.53 crs (FV Rs 10) and Reserves of Rs 5289.60 crs ( largely Share Premium of Rs 5232.56 crs)
The Networth thus on listing is Rs 8681.13 crs computing to a Book Value of Rs 25.60 which at listing Price of @ Rs 70 gives a PBV of 2.73
IDFC Bank began on October 1,2015 with a loan book of Rs 46381 crs
The Capital Structure evolved as below
|
CAPITAL STRUCTURE |
|||||
|
Date |
No of Shares Issued |
Issue Price (Rs ) |
Nature of Issue |
Cumulative Share Capital (Rs Crs) |
Cumulative Share Premium (Rs Crs) |
|
October 21,2014 |
50000 |
10 |
MOA |
5,00,000 |
– |
|
July 7,2015 |
1,250,000,000 |
40 |
Rights to IDFC Financial Holding Co Ltd |
12,500,500,000 |
3750 |
|
September 30,2015 |
547462668 |
37.08 |
“””””””””” |
17,975,126,680 |
5233 |
|
October 9,2015 |
1594020668 |
– |
Scheme of Demerger |
33,915,333,360 |
– |
|
Top 10 Shareholders as on October 27, 2015 |
|||
|
Sr |
Shareholder |
No of Shares |
Stake % |
|
1 |
IDFC Financial Holding Company Limited and its nominees |
1,797,512,668 |
53.00 |
|
2 |
President Of India |
261,400,000 |
7.71 |
|
3 |
Sipadan Investments (Mauritius) Limited |
151,145,989 |
4.46 |
|
4 |
National Westminster Bank PLC as Depositary of First State Asia Pacific Leaders Fund a sub-fund of First State Investments ICVC |
74,206,298 |
2.19 |
|
5 |
Actis Hawk Limited |
37,091,569 |
1.09 |
|
6 |
Orbis Sicav – Asia Ex-Japan Equity Fund |
34,396,487 |
1.01 |
|
7 |
CLSA global markets pte. Ltd. |
27,530,245 |
0.81 |
|
8 |
First State Investments (Hong Kong) Limited A/C First State Asian Equity Plus Fund |
21,771,232 |
0.64 |
|
9 |
Orbis Global Equity Fund Ltd |
17,919,198 |
0.53 |
|
10 |
10 JP Morgan Sicav Investment Company (Mauritius) Limited |
13,503,111 |
0.40 |
|
|
|
2,436,476,797 |
71.84 |
|
The Big Four Private Banks |
||||
|
|
HDFC Bank |
ICICI Bank |
Kotak Mahindra Bank |
Axis Bank |
|
Market Cap (Rs Crs) |
272465 |
155126 |
120225 |
110620 |
|
Share Price (Rs) November 6,2015 Closing |
1080 |
267 |
657 |
465 |
|
FY 15 Book Value |
247 |
139 |
183 |
188 |
|
PBV |
4.37 |
1.92 |
3.59 |
2.5 |
|
The Smaller Four Private Banks |
||||
|
|
IndusInd Bank |
Yes Bank |
IDFC Bank |
IDBI Bank |
|
Market Cap (Rs Crs) |
54550 |
31785 |
23876 |
13570 |
|
Share Price (Rs) November 6,2015 Closing |
921 |
758 |
70.40 |
84.60 |
|
FY 15 Book Value |
193 |
280 |
25.60 |
141 |
|
PBV |
4.8 |
2.7 |
2.75 |
0.60 |
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