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HDFC-HDFC Merger | HDFC Bank Chairman Says This Is A Merger Of Equals
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The housing finance giant Housing Development Finance Corporation (HDFC) will merge with India's largest private sector bank - HDFC bank. Post the merger, HDFC will hold a 41% stake in the bank. Meanwhile, shareholders of HDFC limited will receive 42 shares of HDFC bank for 25 shares held. The deal is subjected to regulatory approvals and is likely to be completed by FY 2024. The HDFC chairman said Deepak Parekh, “After 45 years of housing finance and 9 million homes provided to Indians, we had to find a home for ourselves. We have found it within our own family and in our own bank." Watch this to know more!
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