Thanks for correcting 
So then this is even more positive then the scenario I mentioned in my previous post because now the equity base would also reduce, overall, issues lesser shares to get back higher number of shares of the bank, that seems like a way to use IDFCFIRSTB shares as a currency to buy more of its own currency in return.
In simple words (grossly oversimplified), giving away 247.99 Crores currency notes of x denomination to get back and extinguish 264.64 crore currency notes of very same denomination.
As far as people doing share price comparison, understanding the rationale of that is beyond my limited abilities. Why would people, who are focused on long term business prospects, let market gyrations define their business action (assuming investment is a business action), I feel incapable in understanding behavior. Were markets closed for good, would I pay 247.99 crore shares of a company to acquire back 264.64 crores of the very same company? I think so.
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