Dear All,
Please find below details of timeline of IDFC demerger along with its
impact on securities in cash and FO with record dates.
*Timelines for IDFC Bank from Oct 1 (the day on which the bank goes live
and the demerger is effective) to Nov 6 (when equity shares of IDFC Bank
are likely to be listed and traded).*
a) Record date for being eligible for IDFC Bank shares is Oct 5.
Further, the day on which IDFC shares will trade ex-demerger (i.e. ex-bank)
is Oct 1. The ‘ex date’ is the working day before the record date but since Oct
2, 3 and 4 are holidays, Oct 1 is the ex-bank date for IDFC shares.
b) To facilitate price discovery for IDFC shares ex-bank a one hour
window (pre-open) from 9 to 10 am will be provided on Oct 1 on NSE and BSE.
During this hour, the trades will not be live but will be there only to
facilitate price discovery. Post 10 am the trades on IDFC ex-bank shares
will go live on both exchanges.
c) IDFC Bank shares will be allotted to IDFC shareholders on Oct 9.
d) IDFC Bank shares are likely to be listed and traded by Nov 6.
Hence, for the period Oct 9 to Nov 5, IDFC Bank shares will be unlisted.
Also, highlighting a few points related to F&O contracts:
a) IDFC F&O contracts will be cash settled on Sept 30, a day before
IDFC shares become ex-bank i.e. Oct 1.
b) From Oct 1, there will be a new series of F&O contracts on IDFC
ex-bank shares which will be traded and settled in a manner similar to such
contracts on other listed stocks.
On Wed, Sep 23, 2015 at 12:37 PM, Chandresh Shah
| Subscribe To Our Free Newsletter |
