Hey All,
Recently the merger of two banks IDFC First and IDFC Limited has been approved by the respective board of directors and as a result, 155 equity shares of the Bank will be allotted for every 100 equity shares of IDFC Limited held by such shareholder in IDFC Limited as on the Record Date i.e., October 10, 2024. Frankly speaking I was not aware about this news until today when I noticed that my stock portfolio holding reduced drastically. And upon investigating, I noticed that my portfolio had IDFC LTD share missing and its then I enquired with my stock broker as to what is happening & here is what he had to say::
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Dear Sir,
We are writing to inform you that the merger of IDFC First Bank and IDFC Limited has been successfully completed. This merger is a reverse merger, where IDFC Limited will be merged into IDFC First Bank.
After hearing this it was a relief and I was happy that now I will get shares of IDFC First Bank at a ratio of 155:100 and I have close to 800 shares of IDFC LTD and if I go by the merger ration then I will be receiving close to 1240 Shares of IDFC First Bank & currently its trading around ₹ 73/-
And has a market cap of around ₹ 54K+ Corers & whereas IDFC Ltd had a marketcap of ₹ 17K+ Corers. Its imperative that we normally check our portfolio value and raise alarm when something is not right. I have a habit to check once in while and this gives me an added advantage and make timely decisions. I am happy with the merger ratio of stocks being given out considering IDFC First Bank has delivered good profit growth of 28.8% CAGR over last 5 years and is positioned to give good quarter results that is what many financial analyst are saying so lets hope for the best here. Also another point to mention here is about the shareholding pattern where I am seeing a lot of DIIs[Domestic Institutional Investors] are buying in June 2024 DIIs had 7.93% stake and in July 2024it is 12.81% this information is based from the screener App. Well this should be it for todays post around IDFC First Bank - IDFC Merger & check your investment regularly. I will be sharing more of these examples and insights in my upcoming Stock Market 101; series blog to help you navigate the market more confidently. Stay tuned for more tips on making informed decisions and maximizing your returns.. Happy Investing... cheers
#stock #stockmarket #nse #bse #idfcbank #idfcfirstbank
#idfcfirst #investment #finance #strategy #sensex #indiastockmarket
Do you invest in India Stock Markets? What are the different criteria you look into before picking a quality stock? Are you invested in the IDFC First Bank -Or IDFC ltd? Short term Vs Long Term? Please let me know your views in the comment section below...cheers
Image Credits:: screener, pro canva, sharekhan, zerodha, 5paisa.com
Best Regards
PS:- None of the above is a FINANCIAL Advice. Please DYOR; Do your own research. I've an interest in Blockchain, Stocks & Cryptos and have been investing in many emerging projects.
