HDFC Bank allots shares, warrants to shareholders of HDFC Ltd

Today HDFC Bank has allotted 3,11,03,96,492 New Equity Shares of Rs. 1/- each of HDFC Bank in accordance with the share exchange ratio provided in the Scheme, to/for such eligible shareholders of HDFC Limited who were holding shares as on the Record Date. The said equity shares allotted shall be listed on the stock exchanges and shall rank pari passu in all respects with the existing equity shares of HDFC Bank.

Accordingly, the Paid-up Share Capital of the Bank will accordingly increase from Rs. 559,17,98,806 consisting of 559,17,98,806 equity shares of Re.1/- each to Rs. 753,75,69,464 consisting of 753,75,69,464 equity shares of Re.1/- each post cancellation of promoter holding of 1,16,46,25,834 equity shares.

July 13, 2023 was fixed as the Record Date for continuation of Warrants of HDFC Limited in the name of HDFC Bank, HDFC Bank has approved continuation of 1,47,57,600 warrants issued by HDFC Limited in the name of HDFC Bank (as successor to the issuer HDFC Limited), under new ISIN, on the same terms and conditions (except for the conversion of warrant into equity shares which shall be as per share exchange ratio), in the name of the warrant holders as on the Record date.

The above allotment was made pursuant to the effectiveness of the Scheme and fixing July 13, 2023 as Record Date for determining the eligible equity shareholders of HDFC Limited who shall be allotted the equity shares of HDFC Bank ("New Equity Shares") in accordance with the share exchange ratio i.e. i.e. 42 equity shares (credited as fully paid up) of face value of Re. 1/- (Rupee One) each of HDFC Bank for every 25 fully paid-up equity shares of face value of Rs. 2/- (Rupees Two) of HDFC Limited.

Shares of HDFC Bank Limited was last trading in BSE at Rs. 1641.30 as compared to the previous close of Rs. 1633.00. The total number of shares traded during the day was 315039 in over 18366 trades.

The stock hit an intraday high of Rs. 1656.80 and intraday low of 1639.00. The net turnover during the day was Rs. 519550934.00.

Source : Equity Bulls

Keywords

HDFCBank INE040A01034 HDB Allotment EquityShares ConvertibleWarrants