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Macquarie Bank Selling its Stake in IDFC – 80 Lakh Shares WOrth Rs. 102 Crores

In an open market transaction, the Macquarie Bank had offloaded 80 lakh shares of Infrastructure Development Finance Company (IDFC) in an amount of Rs 102 crore. According to a data that can be found in the stock exchanges, the bank will be selling its 80 lakh share in IDFC for about Rs 127.55 a piece.

IDFC Finance Logo

IDFC Finance

The deal can also be valued to Rs 102 crore. With regards to the organizations or companies who had bought the shares, the information where not immediately available. But surely, this would be available in the public sooner or later. Due to selling their shares, at the end of the march 2012 quarter, the bank now held only 1.31 per cent stake in the company.

Macquarie Logo

Macquarie

This amounts to 1.97 crore of shares only. Selling of shares is one of the ways that a company is addressing some of its financial problem. This is much better than letting the company suffer more and might have a big chance to go bankrupt if financial problems would not be addressed immediately.

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