IDFC Ltd shareholders get one share in the bank and one in the holding company. I have not seen an analytical paper sent to the shareholders giving them the financial summary immediately on the event happening. If Co has not sent it, it smacks of opacity and hubris.
Yesterday, the price cracked. The holding co share perhaps got traded. And the bank share is yet to be allotted. This deprives a shareholder of liquidity for no valid reason.
Also, the stock exchange rules are funny. With everything electronic, both the shares should have started trading simultaneously. Why should we be deprived of liquidity of a stock because of deliberate holding back? The record date could have been on a friday close and on Monday morning, both shares could have traded simultaneously.
One would have thought that IDFC, coming from the HDFC stable, would have done better.