In a strategic move aimed at streamlining its operations, IDFC FIRST Bank Ltd on Monday (October 9) said it has finalised an agreement with the National Securities Depository Ltd (NSDL) for the sale of its office premises located in Naman Chambers, Bandra-Kurla Complex, Mumbai for ₹198 crore
"IDFC FIRST Bank Limited has entered into an agreement with National Securities Depository Limited (“NSDL”) for the sale of the bank’s office premises located at Naman Chambers, Bandra-Kurla Complex (BKC), Mumbai," according to a stock exchange filing.
The consolidation effort is part of the bank's broader strategy to centralise its operations near its Corporate Office situated at IDFC FIRST Bank Tower (The Square), C-61, G Block, BKC, Mumbai.
As per the agreement, the title and ownership of the office premises will be transferred from IDFC FIRST Bank to NSDL, with the possession of the premises to be handed over as mutually agreed upon by both parties, the private sector lender said.
Shares of IDFC FIRST Bank Ltd ended at Rs 90.04, down by Rs 1.35, or 1.48 percent on the BSE.
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