HDFC, HDFC Bank merger: What this mega move means for shareholders, customers

Updated : Apr 04, 2022 10:57
|
EJ Biz Desk

It does not get bigger than this! HDFC Bank and mortgage lender HDFC. Here are the details and the mega merger. 

  • HDFC to merge into HDFC Bank 
    HDFC Ltd will receive shares of HDFC Bank as per approved ratio
  • HDFC Ltd as of record date will get 42 shares of HDFC Bank for 25 shares held by HDFC shareholder
  • HDFC Bank will be 100% owned by public shareholders and existing shareholders of HDFC Limited will own 41% of HDFC Bank
  • HDFC Limited is India’s largest housing finance company with a total AUM of Rs 5.26 lakh crore
  • HDFC Bank, India's largest private sector bank by assets with market cap of Rs 8.35  lakh crore 
  • Bank has requested RBI for phased implementation of higher requirements of reserves - CRR, SLR
  • Lower cost of loans will be available for housing loan customers. 
  • HDFC will cease to exist after merger is complete 
  • Completion of Merger Process: Expected by Q2 / Q3 FY24 (December 2023)

Also read/watch | Sri Lanka crisis: Why dynasty politics and Rajpaksas are being blamed

MergerHDFCHDFC bank

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