InvestorQ : With the promoter of IDFC Bank selling his shares in the market, do you think it would be a good idea to get out of IDFC Bank?
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With the promoter of IDFC Bank selling his shares in the market, do you think it would be a good idea to get out of IDFC Bank?

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Anamika Sodhani answered.
10 months ago
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As per the SEBI filing, IDFC First Bank MD, V Vaidyanathan, sold 2.75 crore shares for about Rs.58 crore on Thursday sold additional shares worth Rs.35 crore on Friday to close ESOP loan availed by him. According to Vaidyanathan, the sharp fall in the price of IDFC First Bank resulted in margin call on his ESOP loan, prompting the CEO to sell his shares. It is hard to say if you can read too much into this but IDFC First is among the weaker names in private banking and is likely to be under tremendous stress.

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