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HDFC-HDFC Bank merger is nearing completion, creating a $168 billion bank.

  • The announcement of the record date, the cut-off day for share swapping, is expected within three weeks.

  • The merged entity is likely to trade under the HDFC Bank ticker before July 20, 2023.

  • The merger is unprecedented in India, impacting millions of customers, shareholders, and related businesses.

  • A central team and committees worked on a business integration plan, while approvals were sought from regulators and stock exchanges.

  • The integration of technology platforms is at an advanced stage.

  • Once the merger is effective, a cut-off date will be announced for eligible HDFC shareholders to receive HDFC Bank shares.

  • HDFC shares will stop trading on the cut-off date, and the allocation and listing of new shares will take a week or two.

  • HDFC Bank will allocate 42 new shares for 25 shares of HDFC.

  • The ex-date, a day before the record date, marks the price adjustment between the merging companies.

  • Nifty Indices' new rules will exclude HDFC from any index on the ex-date and update the value of HDFC Bank.


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