The Boards of Directors of HDFC Ltd. and HDFC Bank Ltd. approved a composite scheme for the amalgamation of HDFC Investments Ltd. and HDFC Holdings Ltd with and into HDFC Ltd; and HDFC Ltd with and into HDFC Bank, as well as their respective shareholders and creditors. As a result, when the scheme takes effect, public shareholders would control 100% of HDFC Bank, while existing HDFC Ltd. shareholders will own 41%.
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