Image Source : PTI (REPRESENTATIONAL) HDFC to be merged with HDFC Bank Leading housing finance company Housing Development Finance Corporation (HDFC) will merge into HDFC Bank which is India’s leading private lender, according to news agency ANI on Monday. HDFC on Monday said that its board has approved the merger of its wholly owned subsidiaries HDFC Investments Limited and HDFC Holdings Limited with HDFC Bank Limited. The HDFC-HDFC Bank merger is expected to be completed by the second or third quarter of FY24. HDFC will acquire 41 per cent stake in HDFC Bank through the transformational merger, according to an HDFC Bank filing with the stock exchanges. HDFC said the Proposed Transaction shall enable HDFC Bank to build its housing loan portfolio and enhance its existing customer base. Latest Business News
Source link
