As per the circular dated 5th July 2023, The National Stock Exchange of India has announced that due to a merger taking effect between HDFC and HDFC Bank, the following changes are applicable in HDFC Derivative contracts:

• Shareholders will receive 42 equity shares (Face value: ₹1) of HDFC Bank Ltd. post-merger for every 25 equity shares (Face value: ₹2) held in HDFC Ltd. The Record Date is 13th July 2023.
• All existing derivative contracts in the underlying HDFC expiring July 2023, August 2023, and September 2023 will expire on 12th July 2023, and Futures and ITM options contracts will be physically settled on 13th July 2023. As a result, HDFC Ltd Derivative contracts will be blocked on 12th July 2023 for trading. For more details on the FYERS physical settlement policies, refer to this blog.
• Clients must maintain the full contract value of the derivatives to take physical delivery of shares.
• The physical settlement will be effected on 13th July 2023 (T+1 day).
• All the pledged HDFC Ltd. holdings will be unpledged.

To know more, refer to this circular.