HDFC Bank, Centurion Bank of Punjab share swap ratio 1:29

HDFC Bank has approved the share swap ratio of 1 share (Rs 10 each) for every 29 shares (Re 1 each) held in Centurion Bank of Punjab.

By INDIATIMES NEWS NETWORK | Feb 25, 2008, 09.54 AM IST

MUMBAI: HDFC Bank has approved the share swap ratio of 1 share (Rs 10 each) for every 29 shares (Re 1 each) held in Centurion Bank of Punjab.

The bank's board will meet on Feb 28 again on the merger of Centurion Bank of Punjab with HDFC Bank. It would also consider a preferential offer to its promoter, Housing Development Finance Corporation, to enable HDFC to maintain its shareholding in the bank.

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