Attention traders and investors!
There’s a crucial update regarding IDFC that you need to be aware of. Due to a corporate action of merger of IDFC with IDFC First Bank, the stock of IDFC will be suspended from trading in both the Cash and F&O segments starting October 10, 2024. The last day to trade IDFC shares will be October 9, 2024. Please find the circular here.
If you currently have open positions in IDFC’s F&O contracts expiring in October, November, or December 2024, it’s important to take action now. Here are the key points to keep in mind:
1. Square Off Positions by October 8, 2024
If you prefer not to opt for physical settlement, ensure that you square off all your F&O positions by October 8, 2024. If you decide to opt for physical settlement, you must maintain 100% margin (contract value) in your account on or before October 9, 2024. Failing to do so could result in RMS square-off and potential penalties for margin shortfall.
2. Unpledging of Shares
All IDFC shares pledged for the margin will be unpledged to avoid any complications due to its delisting. Hence, ensure you have sufficient margin for your open positions to avoid any margin shortfall.
3. Conversion of MTF Shares
Shares of IDFC bought via MTF will be converted to normal. Make sure you have enough funds in your ledger to avoid any ageing square-offs that could disrupt your trading plans.
Make sure to review your positions and act accordingly to ensure a smooth transition as IDFC undergoes this corporate action. If you have any questions or need assistance, feel free to ask here or drop us a mail at help@dhan.co.
Happy trading!