<article> Shares of <a style="color: #000080;" href="http://www.idfc.com/" target="_blank">IDFC Bank Ltd</a> opened at Rs.70.50 on the <a style="color: #000080;" href="http://www.nseindia.com/" target="_blank">National Stock Exchange (NSE)</a> on Friday on its first day of listing.</article>

Shares of <a style="color: #000080;" href="http://www.idfc.com/" target="_blank">IDFC Bank Ltd</a> opened at Rs.70.50 on the <a style="color: #000080;" href="http://www.nseindia.com/" target="_blank">National Stock Exchange (NSE)</a> on Friday on its first day of listing.
At 10.31am, the stock was trading at Rs.71.50 apiece, up 1.5% from its opening price, according to NSE. In intra-day trade, the stock touched a high and a low of Rs.73.40 and Rs.70, respectively. Meanwhile, IDFC Ltd, which incorporated IDFC Bank, fell 2.3% to Rs.58.05.
The <a style="color: #000080;" href="https://www.rbi.org.in/" target="_blank">Reserve Bank of India (RBI)</a> granted IDFC a universal banking licence in July and on 1 October, IDFC transferred all assets and liabilities of its lending business (financing undertaking) to IDFC Bank and simultaneously launched the bank. However, the formal inauguration was on 19 October.
IDFC Bank has a balance sheet of Rs.73,447 crore and a net worth of Rs.13,322 crore. The book value of the IDFC share is Rs.60.10, while that of IDFC Bank share is Rs.39.11, PTI reported.
IDFC Bank comprises three businesses—commercial and wholesale bank, rural bank and personal and business bank.
IDFC Bank has been launched with 23 operational branches. Of these, 15 are rural branches in Hoshangabad, Khandwa and Harda districts of Madhya Pradesh, and the rest eight are spread across urban locations.
The bank expects to have a network that will be lighter on branches and rely more on digital infrastructure, PTI report said. IDFC Bank is expected to open to urban customers in January 2016.
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<h4>This article was first published on <a style="color: #000080;" href="http://www.livemint.com/Money/Bxtk0jlVsJwvqmGcxyqi5N/IDFC-Bank-shares-trade-higher-on-listing.html" target="_blank">Livemint.com</a></h4>

Shares of IDFC Bank Ltd opened at Rs.70.50 on the NSE. At 10.31am, the stock was trading at Rs.71.50 apiece, up 1.5% from its opening price, according to NSE.

India: IDFC Bank shares rise slightly on first day of trade

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India: IDFC Bank shares rise slightly on first day of trade

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