The Office Space that would be sold to the central Securities IDFC First Bank depository is located in Naman Chambers Based in the Business IDFC First Bank hub of Bandra Kundra Complex.
Premises of the office IDFC First Bank procession will be handed over on mutually agreed terms, IDFC First bank said.
IDFC First bank on October 9 informed the stock exchanges that it has entered into IDFC First Bank an agreement with the national securities. Depository limited NSDL to sell one of its Premises in Mumbai for 109 Crores rupees.
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The office space that would be sold to the securities depository is located on Naman Chambers, based in the business hub of Bandra Kurla Complex (BKC).
The decisions is part of consolidation of bank operations near in its corporate offices at IDFC First bank tour(The square) C-61 G Block BKC Mumbai ” The lenders Stated in its regulatory filling.
” The consideration for the mentioned office Premises amount to 198 Crores it further added. IDFC First Bank to sell Mumbai office space to NSDL for Rs – 198 Crores Rupees The title and ownership of the office premises will be transferred from the bank to NSDL, IDFC First Bank added. IDFC First Bank while also nothing that the possession of the office premises will be handed over as Mutually agreed Between both the parties.
The IDFC First Bank Bank also Clarified that NSDL does not hold any shares in IDFC First Bank and the seal deal with the depository does not fall under related party transactions.
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The development comes six days after report said that IDFC First bank is planning to raise 3,000 crores via a qualified institutional placement (QIP). IDFC First Bank The private lenders had reported Strong financial in the quarter endings June 2023. with its net Profit in the Period climbing by 61 Percent on year to 765 Crore. The banks net interest Income grew 36 percent on year to 3,745 Crore.
The assets quality also Improved, IDFC First Bank as the Gross non performing Assets (IDFC First Bank GNPA) reduced to 2.17 percent as on june 30, 2023, as Compared to 3.36 percent as of June 30,2022.
In the trading session on October 9 IDFC First bank Scrip settled at 90.04 apiece, Down by 148 percent as against the previous day IDFC First Bank close.
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