Dividend and stock split: today's highlighted companies include Vedanta, ARC Finance, and IDFC.

The spotlight will be on the shares of IDFC, ARC Finance, and New Light Apparels today, as they will be the ex-date of their announcements of amalgamation, rights issue, and stock split, respectively, tomorrow, October 10, 2024. The board of ARC Finance has approved a rights issue of 40,39,60,000 fully paid-up equity shares of Re 1 each, for a total of Rs 48,47,52,000, at an issue price of Rs 1.20 per equity share. As a result, on October 10, 2024, the record date, four new right shares will be issued for every five existing equity shares held by qualified shareholders.

Following the announcement by the firm of the merger of IDFC Limited with IDFC FIRST Bank and IDFC Financial Holding firm Limited (IDFC FHCL) with IDFC Limited, IDFC shares will trade ex-date on October 10. This implies that IDFC First Bank will only have public shareholders and that IDFC FHCL and IDFC would be disbanded. For every 100 shares of IDFC Limited (face value Rs 10 each) that shareholders of IDFC Limited hold as of the record date, October 10, 2024, they will get 155 shares of IDFC First Bank as part of the merger.