IDFC was awarded an in-principle approval for a banking license in Apr-2015 by RBI and it is currently in the phase of transforming from NBFC to a Bank. Every shareholder will be given 1 share of IDFC Bank for every share held in IDFC Ltd. Most of the business will be transferred to the new entity and IDFC Ltd will remain as a non-operative financial holding company (NoFHC). The demerger process is expected to be completed by Oct-2015. With superior capitalization levels (~23% Tier I Capital), quality management team (recruitment of key managerial personnel already done) and significant FII headroom (~23% in Oct 2015 in IDFC Bank), we believe there will be strong growth potential in IDFC Bank....