HDFC-HDFC Bank Merger: HDFC Bank and HDFC are going to merge and this merger has got the approval of the board of HDFC. Mortgage lander Housing Development Finance Corporation i.e. HDFC will merge its wholly owned subsidiaries HDFC Investment Limited and HDFC Holding Limited with HDFC Bank Limited.
What is Merger Ratio
Under this merger, HDFC has decided to take 41 percent stake in HDFC Bank through transformational merger. HDFC Bank said this in the information given to the stock exchange.
When will the merger of HDFC-HDFC Bank be completed?
The merger of HDFC Bank and HDFC may happen in the second or third quarter of the financial year 2024. HDFC says that the proposed transaction will help HDFC Bank strengthen its loan portfolio and increase its existing customer base.
Press conference will be held at 11.30 am
To announce the merger of HDFC and HDFC Bank will be done in Mumbai today at 11.30 am. Today, if we look at the shares of HDFC, then all of them are seeing great growth.
Great rise in shares on the news of merger
Due to the news of the merger of HDFC and HDFC Bank, the shares of both are seeing a great rise. HDFC Bank is trading at a level of 1,640.05 with a jump of Rs 134.05 or 8.90 percent. On the other hand, HDFC’s stock is trading at the level of 2745.50 with a jump of about 12 percent. HDFC Bank is doing business with the biggest boom in 2 years.
HDFC Ltd Chairman Deepak Parekh said
Deepak Parekh, Chairman, HDFC Ltd. said, “This is a merger of equals. We believe that the housing finance business will grow rapidly due to government initiatives like implementation of RERA, state of the housing sector infrastructure, affordable housing for all. headed towards.”
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