Categories: Banking

The merger of HDFC Bank and HDFC Ltd has been announced

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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KEY POINTS:

  • Closing conditions for the Scheme and the Proposed Transaction are standard. Multiple approvals are required for the programme to be implemented.
  • The subsidiaries/associates of HDFC Ltd. shall become subsidiaries/associates of HDFC Bank once the scheme takes effect.
  • Shareholders of HDFC Ltd. as of the record date will receive 42 HDFC Bank shares (each with a face value of 1) in exchange for 25 HDFC Ltd. shares (each with a face value of 2), and HDFC Ltd.’s equity share(s) in HDFC Bank would be extinguished as per the scheme.

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Mahesh Kumar

Working as an SEO Manager at Adda247, I bring over 10 years of experience in Search Engine Optimization (SEO) and digital marketing. I specialize in driving organic growth through data-driven strategies, including keyword research, on-page SEO, off-page optimization, and technical SEO. My area of expertise in the EdTech sector, specifically focusing on competitive exams such as Bank, SSC, Railway, UPSC, and various State Government job examinations.

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Mahesh Kumar
4 years ago

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