The company has declared an interim dividend of Rs 70 per share for its shareholders. After the board meeting on Friday, the company informed the stock markets about this. The company’s shares rose by about 1.66 percent on Friday to reach Rs 3823.20 on the National Stock Exchange.

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The special thing is that this is the highest dividend payment ever made by HDFC Asset Management Company in its trading history. Shareholders are going to get the biggest dividend ever since the company’s listing in the year 2018.

When is the record date?

In the information given to the stock markets, it has been said that the record date for the dividend is June 18. By this date, shareholders whose names are in the records of the Register of Members of the Company or Depositories as beneficial owners of the shares will be entitled to the dividend. The dividend will be paid to the eligible shareholders on or before June 30, 2024. This dividend will be issued at a face value of Rs 5 per share.

90% return in one year

Talking about the performance of HDFC AMC company’s stock, this stock has given a strong return of more than 90% in the last 1 year. In the last 6 months, the stock has seen a strength of more than 25%.

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Shareholders of IDFC Limited will be allotted 155 shares in the bank for every 100 shares held. After the merger, the value of shares of IDFC First Bank will jump by 4.9 per cent.

IDFC First Bank said in the information given to the stock market on Monday that this is being done for the purpose of simplification of the corporate structure of IDFC FHCL, IDFC Limited and IDFC First Bank. The bank says that this will also make it easier to comply with the regulations. Significantly, this is the second largest merger in the financial sector in India after the merger of HDFC Bank and HDFC Bank.

What a big deal

No information has been provided by IDFC First Bank in this regard. However, if we look at the price of shares of both the companies till the market closes on Monday, then the valuation of this deal will be around Rs 71767 crore.

Pending approval

Right now this merger is yet to be approved by Reserve Bank of India (RBI), Competition Commission of India (CCI), SEBI, NCLT and all other regulatory institutions including stock markets. Apart from this, it is yet to be approved by the shareholders of both the companies.

Financial data of companies

By the end of the financial year 2022-23, IDFC First Bank had assets worth Rs 2.4 lakh crore. Its turnover was Rs 27,194 crore. In FY23, the bank had a net profit of Rs 2437 crore. On the other hand, if we talk about IDFC Limited, then till the end of the last financial year, there were assets of Rs 9570 crore and its turnover was Rs 2076 crore.

What will be the effect on shareholders?

On Monday, shares of IDFC First Bank closed at Rs 81.70, up 2.90 per cent on the NSE. At the same time, IDFC Limited closed at around Rs 110 with a gain of 7 per cent. If this merger happens, the investors of IDFC Limited will get additional shares and they will get huge profits due to the rise in the shares of IDFC First.

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A new update related to the ambitious scheme ‘Atal Pension Yojana’ launched by the Modi government for the laborers of the unorganized sector has come to the fore. More than 1.19 crore new shareholders have been added to this scheme of the government in the year 2022-23, which shows an increase of 20 percent on an annual basis. This information was given by the Ministry of Finance.

It was told by the Finance Ministry that in 2021-22, the number of new shareholders associated with the scheme was 99 lakhs. This time there has been a tremendous increase in the shareholders joining ‘Atal Pension Yojana’. In a statement issued by the ministry, it was told that by March 31, 2023, the number of shareholders associated with this scheme of the central government has increased to 5.20 crore.

Under the Atal Pension Yojana, the subscriber gets a minimum guaranteed pension ranging from Rs 1,000 to Rs 5,000 for the whole life after attaining the age of 60 years. The pension amount depends on the annual investment made by the account holder. Earlier, a major change was made in this scheme last year by the Modi government.

What is Atal Pension Yojana

As per the current rule, if you are an Indian citizen and your age is between 18-40 years and you have a savings account in a bank or post office, then you can apply for APY. Let us tell you that after investing in the Atal Pension Yojana (APY), there is a provision to get a pension of up to Rs 5,000 every month after the age limit. Under the new change, people filing ITR in this scheme cannot open an account. This scheme was started especially for the employees of the unorganized sector.

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