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1h ago

HDFC Bank and Karur Vysya Turn Ex-Bonus as Prices Reset to Bonus Ratios

Investors who purchased before the T+1 cutoff will be recognized on the Ganesh Chaturthi record date.

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Overview

  • HDFC Bank began trading ex-bonus in a 1:1 ratio on August 26, with screens showing an optical ~50% price drop while total holdings value remains unchanged.
  • The record date is August 27, which is a trading and settlement holiday, so eligibility required buying shares by August 25 under India’s T+1 cycle.
  • HDFC Bank says bonus shares will be allotted on or before September 18 per its filing, and its NYSE-listed ADS count will be increased by JP Morgan to reflect the 1:1 issue without changing the ADS ratio.
  • Karur Vysya Bank turned ex-bonus in a 1:5 ratio on August 26, opening around Rs 229 after adjustment and showing a gain of about 4% on the adjusted price.
  • The ex-bonus moves come during a 2025 surge in such actions, with BSE disclosures listing multiple companies setting record dates over August to October.