Bharat Financial to turn ex-date for merger

Shares of Bharat Financial Inclusion will turn ex-date on Wednesday for the proposed amalgamation with IndusInd Bank. As per the scheme, the Bank will allot 639 shares to shareholders of Bharat Financial on the record date (July 4) for every 1,000 shares held in Bharat Financial, the erstwhile SKS Microfinance. All assets and liabilities of Bharat Financial shall become assets and liabilities of the bank with effect from the appointed date i.e., January 1, 2018.