HDFC merger with HDFC Bank to be effective from July 1: Deepak Parekh
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Parekh said that HDFC Ltd. The merger of HDFC Bank with HDFC Bank will be effective from July 1. HDFC Vice Chairman and Chief Executive Officer Keki Mistry said that the delisting of the company’s shares will be effective from July 13.
Mumbai Housing Finance Company HDFC Ltd. The merger of HDFC Bank with the private sector will be effective from July 1. HDFC Chairman Deepak Parekh gave this information on Tuesday. He said that the boards of directors of HDFC and HDFC Bank will meet on June 30 to approve the merger proposal. Parekh said that HDFC Ltd. The merger of HDFC Bank with HDFC Bank will be effective from July 1. HDFC Vice Chairman and Chief Executive Officer Keki Mistry said that the delisting of the company’s shares will be effective from July 13.
HDFC Bank had agreed to merge housing finance company HDFC with itself on April 4 last year. The deal is worth $40 billion. It has been termed as the biggest merger deal in corporate history in the country. After this merger, a large financial services company of the country will be created. The combined assets of the new entity formed after the merger will be around Rs 18 lakh crore. Under this deal, every shareholder of HDFC will get 42 shares of HDFC Bank for every 25 shares held.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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