How much cash IDFC has on its books for dividend. Couldn’t get from Q4FY24 investor presentation.
Cash in the Consolidated Balance sheet as on 31.03.2024 is Rs.241.37 Crore (Check page 15 of the link attachment https://www.bseindia.com/xml-data/corpfiling/AttachHis/5ca2c249-7c2c-4038-b001-47cc1af5823c.pdf). However my doubt is how much of it is already factored in for the merger with IDFC First Bank. We will find out tomorrow.
The merger of IDFC will attract the same tax treatment as that of Tata Motors DVR? If so, is it beneficial in liquidating the IDFC than getting it converted to IDFC Bank?
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IDFC Limited will be delisted and merged with IDFC First Bank on October 1, 2024. Then how the IDFC still showing in holding and available for trading?
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Until the record date where eligibility determined (10th of this month) and share extinction date, it will trade. Then you will get shares of IDFC first in your demat.
for more details refer https://www.bseindia.com/xml-data/corpfiling/AttachHis/9371fbee-d5ad-4a35-92ea-8f6a3b8ad869.pdf
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Are IDFC First bank shares credited to anyone’s account?
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No.
In the press release , it says
“The shares are expected to be credited to shareholders of IDFC Limited on or before October 31, 2024, subject to regulatory processes and clearances.”
So , probably have to wait till end of the month.
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