New HDFC Bank shares to list Monday; here’s how public holding rejigged in merged entity

economictimes.indiatimes.com:

HDFC Bank to shareholders of merged entity HDFC Ltd, the new scrips will be listed on the bourses on Monday, according to a circular by the National Stock Exchange. On Friday, the bank in an exchange filing said it has allotted 3,11,03,96,492 new equity shares, of face value Rs 1 each, to the eligible shareholders of HDFC Ltd. As per the merger agreement, every HDFC shareholder has got 42 shares of HDFC Bank for every 25 shares they held in the company.

“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,” the bank said. Accordingly, the paid-up share capital of the bank will increase to 753,75,69,464 shares from 559,17,98,806 shares. The mega $40-billion merger of HDFC Bank and HDFC Ltd came into effect on July 1.

Shares of HDFC Ltd discontinued trading on the stock exchanges from July 13. The bank had set July 12 as the record date for determining eligible shareholders for share allotment. On Friday, shares of HDFC Bank ended 0.2% higher on the NSE at Rs 1,644.50.Shareholding Pattern Following the allotment, the bank has also furnished its shareholding pattern, wherein public shareholders fully own the bank.

Foreign portfolio investors under Category-I now hold 50.46% stake in the merged entity, compared to 29.54% a quarter ago. The government of Singapore owns 2.67% stake in the merged entity, and Invesco Markets Fund 1.21%. Mutual Funds’ cumulative holdings in the bank have gone up to 19.13% from 18.47% as of March end.