
Renowned for his benevolent nature and commitment to philanthropy, V Vaidyanathan, the MD and CEO of IDFC First Bank, continues to display his generous spirit. In a recent act of kindness, he has gifted 7 lakh shares, valued at nearly Rs 5.5 crore, of the private sector lender to five individuals, including an Air Force veteran and a child who lost a parent.

According to regulatory filings, Vaidyanathan gifted 50,000 shares of IDFC First Bank to Sameer Mhatre for the purpose of purchasing a house. He also bestowed 75,000 shares upon Mayank Mrinal Ghosh as a means of providing financial security to his kin in the wake of a colleague’s bereavement. Additionally, 2.5 lakh shares were given to Wg. Cdr. (Rtd.) Sampath Kumar as a form of assistance for a senior citizen.
Among the other recipients of Vaidyanathan’s generosity are A Kanojia, who received 2.75 lakh shares to aid in the purchase of a house, and Manoj Sahay, a close friend of the banker.
These gift transactions were officially recorded on March 21, with the bank confirming that Vaidyanathan derived neither direct nor indirect benefits from these acts. Based on the closing price of Rs 77.90 on March 21, the total value of the gifted shares amounts to approximately Rs 5.45 crore.
While acts of philanthropy are not uncommon in the corporate world of India, Vaidyanathan’s approach to gifting shares is indeed distinctive. In February 2022, he previously gifted 9 lakh shares, worth over Rs 3.95 crore, to five individuals, including his trainer, househelp, and driver, in order to assist them in purchasing homes.
In 2020, he garnered attention for gifting shares to his former mathematics teacher, who had lent him Rs 500 during his schooling days when he lacked the means to travel.
Since January 2018, it is estimated that Vaidyanathan has gifted approximately 40% of his stake in the bank, further exemplifying his commitment to making a positive impact on the lives of others through his philanthropic endeavors.