HDFC Bank fixes July 13, 2023 as record date for merger with HDFC

The board of directors of HDFC Bank at its meeting held today i.e., June 30, 2023, has considered and noted / approved the following:

- Receipt of the certified copy of the order of the NCLT sanctioning the Scheme.

- Saturday, July 1, 2023, to be the 'Effective Date' of the Scheme, on which date the certified order of the NCLT sanctioning the Scheme will be filed by HDFC Investments, HDFC Holdings, HDFC Limited and HDFC Bank with the RoC.

- Appointed Date 1, under the Scheme, for the amalgamation of HDFC Investments and HDFC Holdings with and into the HDFC Limited, will thus be end of Friday, June 30, 2023 (being end of the day immediately preceding the Effective Date).

- Appointed Date 2, under the Scheme, for the amalgamation of HDFC Limited with and into HDFC Bank, will thus be Saturday July 1, 2023 (being the same as Effective Date).

The board of directors of HDFC Bank in consultation with the board of directors of HDFC Limited has fixed the following as the Record Dates under the Scheme:

- Thursday, July 13, 2023, for determining the shareholders of HDFC Limited who shall be issued and allotted the shares of HDFC Bank;

- Thursday, July 13, 2023, for continuation of warrants of HDFC Limited in the name of HDFC Bank;

- Wednesday, July 12, 2023 for transfer of non-convertible debentures of HDFC Limited in the name of HDFC Bank; and

- Friday, July 7, 2023 for transfer of commercial papers of HDFC Limited in the name of HDFC Bank.

Shares of HDFC Bank Limited was last trading in BSE at Rs. 1701.75 as compared to the previous close of Rs. 1676.40. The total number of shares traded during the day was 1225590 in over 27471 trades.

The stock hit an intraday high of Rs. 1708.60 and intraday low of 1682.90. The net turnover during the day was Rs. 2078497479.00.

Shares of Housing Development Finance Corporation Limited was last trading in BSE at Rs. 2821.50 as compared to the previous close of Rs. 2779.65. The total number of shares traded during the day was 261523 in over 20745 trades.

The stock hit an intraday high of Rs. 2830.00 and intraday low of 2784.00. The net turnover during the day was Rs. 735459641.00.

Source : Equity Bulls

Keywords

HDFCBank INE040A01034 HDB HousingDevelopmentFinanceCorporation INE001A01036 HousingFinance