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Rs 4.83 Cr Share: IDFC Bank CEO Gifted This to His Driver, Other Staff During Cash Crunch

By: Business Desk

News18.com

Last Updated: February 22, 2022, 11:25 IST

V. Vaidyanathan has gifted 9 lakh equity shares of the Bank, worth Rs 4.83 crore

V. Vaidyanathan has gifted 9 lakh equity shares of the Bank, worth Rs 4.83 crore

V. Vaidyanathan has gifted 9 lakh equity shares of the Bank, worth Rs 4.83 crore, to some of its staff

In another philanthropic gesture, IDFC First Bank Limited managing director and chief executive officer V. Vaidyanathan has gifted 9 lakh equity shares of the Bank, worth Rs 4.83 crore, to some of its staff. “As per the disclosure requirements under Regulation 30 of the SEBI Listing Regulations read with Regulations 7(2) and 6(2) of the SEBI Insider Trading Regulations, we wish to inform that Mr. V. Vaidyanathan, Managing Director & CEO, has gifted 9,00,000 equity shares of IDFC FIRST Bank Limited held by him to the persons named below on February 21, 2022,” said IDFC First Bank in a note.

“It is declared that the recipients are personal relationships and not related to him in any manner under the definition of related parties of the Companies Act or SEBI Regulations. These transactions are without consideration,” the bank said in a statement to regulatory filing.

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first published:February 22, 2022, 11:15 IST
last updated:February 22, 2022, 11:25 IST