Merger Proposal for HDFC-HDFC Bank Receives After BSE and NSE, what happens next?

HDFC Bank-HDFC Merger: As stock markets approve of their amalgamation plan, HDFC Bank and its parent HDFC move one step closer to the merger process. Regarding the proposed composite scheme of amalgamation for the amalgamation of: I HDFC Investments and HDFC Holdings, wholly-owned subsidiaries of Housing Development Finance Corporation (HDFC), with and into HDFC; and (ii) HDFC with and into HDFC Bank, HDFC Bank has received observation letters with "no adverse observations" from BSE and an observation letter with "no objection" from the National Stock Exchange of India, both dated July 02, 2022.

"The Scheme remains subject to various statutory and regulatory approvals, inter alia including approvals from the Competition Commission of India, Reserve Bank of India, the National Company Law Tribunal, and the respective shareholders and creditors of the companies involved in the Scheme, as may be required," HDFC Bank and HDFC stated in their separate regulatory filing.

On April 4, HDFC Bank announced that parent company HDFC will merge with the bank in order to facilitate seamless home loan distribution, leverage HDFC Bank's sizable customer base of over 68 million clients, and, among other things, quicken the rate of credit development in the economy.

HDFC Bank would grow to be one of the biggest banks in the world after the merger with HDFC. This sale, which is estimated to be valued Rs 4.53 lakh crore, is the second-largest corporate transaction so far in 2022. After this transaction is completed and the bank has merged, its market capitalization may be closer to Rs. 15.12 lakh crore. By the second or third quarter of the fiscal year 2024, HDFC and HDFC Bank should have merged.

#hdfcbankloan #hdfcbankpersonalloan #hdfcbankloan #hdfcbankhomeloan

Read more Business, Entertainment, Social, Politics , Real Estate , Finance , Sports

0 views0 comments