On March 17th, the National Company Law Tribunal (NCLT) approved the merger of HDFC Ltd and HDFC Bank, which is considered to be the largest merger in the history of corporate India. The merger will create a massive banking entity by combining India’s largest housing finance company with the country’s largest private lender. Prior to this, HDFC Ltd had already received approval from various regulatory bodies and stock exchanges for the merger. Shares of both companies were trading higher on the BSE during late trading hours.
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HDFC Ltd, or Housing Development Finance Corporation Limited, is one of the leading financial institutions in India. The company was established in 1977 with the objective of providing finance for the purchase or construction of homes. Here is a brief history of HDFC Ltd:
Today, HDFC Ltd is a diversified financial services company that provides a range of products and services including home loans, insurance, mutual funds, and banking services. The company has a strong presence in India and has also expanded internationally, with offices in Dubai, London, and Singapore.
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