HDFC to merge with HDFC Bank; HDFC Ltd to own 41% stake in combined co | GROWMUDRA

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HDFC to merge with HDFC Bank; HDFC Ltd to own 41% stake in combined co

04 Apr , 2022 By : monika singh

HDFC to merge with HDFC Bank; HDFC Ltd to own 41% stake in combined co

The board of directors of HDFC have announced the merger of housing lender HDFC with HDFC Bank, the company said in a statement on Monday. Under the proposed agreement, HDFC Bank will be 100% owned by public shareholders, and existing shareholders of HDFC Limited will own 41% of stake in HDFC Bank. Shares of HDFC Bank and HDFC rose nearly 10% on the benchmark index on Monday.

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