Latest HDFC Bank Merger
HDFC Merger gets RBI Nod (July 05, 2022)
HDFC Bank on July 4, 2022 said the REserve Bank of India (RBI) has approved its amalgamation with Housing Development Finance Corporation (HDFC)Once all approvals are in place, HDFC Bank will become a 100% publicly owned institution, with HDFC’s 21% promoter holding getting extinguished. Sashidhar Jagdishram, who became MD & CEO of HDFC Bank in October 2020 will lead the merged entity.
The merger would be the largest Indian Corporate History, creating a financial behemoth with a $169 billion market capitalisation (the second largest in India) and will among the 10 most valued banks in the world. Shareholders of HDFC will receive 42 shares of HDFC bank for 25 shares of HDFC.