The last date to buy shares of Housing Development Finance Corp. to benefit from the merger with HDFC Bank Ltd. is July 12.
The record date, or the cut-off day set for shareholders, to become eligible for getting shares of HDFC Bank for every share of Housing Development Finance Corp. held by them is July 13.
Eligible shareholders of HDFC will receive 42 new HDFC Bank shares for every 25 shares held by them in the former, according to the scheme of the merger.
This means that the last date to buy HDFC shares will be the ex-merger date, which is July 12, or, in other words, to get the benefits of the merger, an investor will have to buy shares of HDFC one day or more ahead of the record date.
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