Following the decision by HDFC Bank and Centurion Bank of Punjab to merge, the HDFC Bank board has finalised the share swap ratio as 1:29, which means 1 share (FV-Rs.10) in HDFC Bank for every 29 shares (FV-Re.1) held in Centurion Bank of Punjab.

The board is scheduled to meet again on 28th Feb to decide further  course of action, as well as consider a preferential offer to its promoter, HDFC, which would allow it to maintain it’s  level of shareholding in the bank (which stands at just less than 24%).

 



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