HDFC Merger: News of the benefits of millions of customers, the biggest update on HDFC merger, know when there will be merger?
HDFC and HDFC Bank Merger: HDFC's proposal to merge with HDFC Bank has already received approval from the stock markets. Now now HDFC Limited, who gave housing loan, has been approved by the National Housing Bank (NHB) for merger with his assistant.Read more: Live Nitish Kumar will take oath tomorrow at 2 pm: RJD will claim the support of 164 MLAs of 7 parties, Deputy CM's chair
HDFC and HDFC Bank Merger: There is a big update about HDFC's merger. Now HDFC Limited, a housing loan, has been approved by the National Housing Bank (NHB) for merger with his assistant. The company has given this information in the information sent to the stock market. According to this information, NHB has also approved the merger with two HDFC subsidiaries- HDFC Investments and HDFC Holdings Limited. It is worth noting that earlier HDFC Limited has been approved by the Reserve Bank of India, Securities and Regulations Board and Stock Exchange (NSE and BSE) on the proposed merger with HDFC Bank. That is, now the path of merger is cleared.
its approval mandatory here
There is still some approval in the merger. This merger scheme is still subject to the approval of various statutory and regulators, including the respective shareholders and creditors of both companies, Competition Commission, NCLT and both companies, they will be merged only after getting approval from all these places. Let us tell you that this is going to be the biggest transaction in the corporate history of the country. HDFC's proposal to merge with HDFC Bank has got the approval of the stock markets. It is worth noting that HDFC and HDFC Bank have got no objections from both index of the stock market. That is, now HDFC and HDFC Bank will merge.
Bank gave information
HDFC Bank said that it has received an observation letter with 'Observance' from BSE Limited and 'No Objection' from the National Stock Exchange of India Limited without 'any adverse comments. That is, now the path of merger of HDFC and HDFC Bank has been cleared.
Not only this, the proposal for merger of HDFC Bank of HDFC has also received approval of RBI. Actually, RBI had this proposal from long ago.
$ 40 billion deal
It is worth mentioning that earlier on April 4, the country's largest housing finance company HDFC Limited was decided to merge the private sector bank HDFC Bank. Let us tell you that this acquisition deal of about $ 40 billion will bring a big company in the financial services sector into existence. With the merger of HDFC and HDFC Bank, the company will come into a new existence.
how much is combined asset?
Combined asset base of the proposed unit will be around Rs 18 lakh crore. The merger is expected to be completed by the second or third quarter of FY 24, which is subject to regulatory approval. After the deal is effective, HDFC Bank will be owned by 100 percent public shareholders and the current shareholders of HDFC will have 41 percent of the bank.
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