New Delhi: Some employees of IDFC First Bank have already received the gift of Holi. Bank's MD and CEO V Vaidyanathan has gifted 9 lakh shares of the bank to 5 people, whose value is around Rs 4 crore. This gift has been given to the five to help them buy a house. The private sector bank has given information in this regard to the Bombay Stock Exchange (BSE).
The bank has told that its MD has given these shares from his personal capacity. The 5 people who have received the gift include Vaidyanathan's trainer, driver and house help. IDFC First Bank CEO V Vaidyanathan has gifted shares of the bank to some people in the past as well. The bank said that Vaidyanathan gifted these shares to the five people on February 21.
Out of these, 3 lakh shares were given to trainer Ramesh Raju, 2-2 lakh shares to Househelp Pranjal Narvekar and driver Algarsamy C Munnapar and 1-1 lakh shares to office support staff Deepak Pathare and Househelp Santosh Jogale. On Monday, the share price of the bank was Rs 43.90 on BSE. Thus the value of all the shares gifted becomes a little more than Rs 3.95 crore.
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