The non-banking financial company has no plans to raise further money in near-term, says Vikram Limaye after IDFC raised Rs 1,000 crore recently.
Infrastructure lender IDFC recently raised Rs 1000 crore through qualified institutional placement (QIP) after selling 7.3 crore shares for Rs 137 each.
The non-banking financial company sold the shares in order to bring down foreign institutional investors holding (FII) to under 50 percent, as stated by the Reserve Bank of India guidelines.
Speaking to CNBC-TV18 on the expectations going ahead, MD and CEO, Vikram Limaye says the company has no plans to raise further money in near-term.
According to Limaye, the funds raised by them were not raised for company's capital needs. The NBFC is likely to start its banking operations from October 1, 2015 under 'IDFC Bank'. The new bank will be a subsidiary of IDFC, confirms Limaye.
IDFC believes the loan book growth will continue to slow.
Meanwhile, the management refrained from giving any comments on the appointments for the new bank.
IDFC stock price
On September 23, 2014, at 11:10 hrs IDFC was quoting at Rs 144.05, down Rs 0.6, or 0.41 percent. The 52-week high of the share was Rs 166.70 and the 52-week low was Rs 86.35.
The company's trailing 12-month (TTM) EPS was at Rs 10.78 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 13.36. The latest book value of the company is Rs 96.96 per share. At current value, the price-to-book value of the company is 1.49.
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