2024-03-22 19:54:46
New Delhi: When it comes to philanthropists in the country, the name of V Vaidyanathan, MD and CEO of IDFC First Bank, figures prominently. During February 2022, he had donated nine lakh shares to five persons including his trainer, househelp and driver to buy houses. At that time the value of those shares was Rs 3.95 crore. Now he has donated shares worth about Rs 550 crore. Let us know about this.
Shares worth Rs 550 crore given to five people
In a regulatory filing made yesterday i.e. on March 21, it has been said that IDFC First Bank MD and CEO V Vaidyanathan has once again donated seven lakh shares worth hundreds of crores of rupees. This banker has given this gift to five people. These include a retired Air Force officer and a child who has lost his parents. On the day the shares were donated, the price of one share of IDFC Bank was Rs 77.90. Today its price has further increased to Rs 78.34. Meaning that shares worth about Rs 550 crore were gifted.
Two and a half lakh shares given to retired wing commander
The filings show that Vaidyanathan donated 50,000 shares of IDFC First Bank to Sameer Mhatre to buy the house. Meaning that he received Rs 38.95 lakh in donation through this share. Along with this, he donated 75,000 shares to Mayank Mrinal Ghosh, a relative of one of his colleagues. If this is added to yesterday’s value of this bank, Mayank has received more than Rs 58.42 lakh in donations. On the same day, he gifted 2.5 lakh shares to Sampat Kumar, a retired wing commander of the Air Force. The other two people who were given shares yesterday are A Kanojia (2.75 lakh shares to buy the house) and Manoj Sahay, identified as a friend of the banker.
Have been donating shares in charity before also
Vaidyanathan has not donated lakhs of shares for the first time. Even before this he has been donating his shares to people. Earlier in February 2022, the banker had gifted 9 lakh shares he held, worth over Rs 3.95 crore, to five individuals including his trainer, househelp and driver to help them buy houses. In 2020, he reportedly gifted shares to his former mathematics teacher, who had helped him with Rs 500 when he got admission in a leading school. Vaidyanathan is said to have gifted around 40% of his stake in the bank since January 2018.