IDFC Limited appoints Mr. Mahendra N Shah as MD

Based on recommendation of Nomination & Remuneration Committee, the Board of Directors ('the Board') of IDFC Limited ('IDFC' or 'the Company') at its meeting held today i.e. August 24, 2022, has considered and approved the appointment of Mr. Mahendra N Shah (DIN: 00124629) as Managing Director-Designate of the Company with immediate effect.

The term of Mr. Sunil Kakar (DIN: 03055561) as Managing Director & CEO of the Company will end at the close of business hours on September 30, 2022. Mr. Mahendra N Shah will be Managing Director w.e.f. October 01, 2022 till September 30, 2023 subject to approval of the shareholders of the Company and other applicable statutory / regulatory approvals.

Shares of IDFC Limited was last trading in BSE at Rs. 61.05 as compared to the previous close of Rs. 59.45. The total number of shares traded during the day was 260849 in over 1396 trades.

The stock hit an intraday high of Rs. 61.90 and intraday low of 58.75. The net turnover during the day was Rs. 15789778.00.

Source : Equity Bulls

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IDFC INE043D01016 Appointment MD