HDFC bank to merge with HDFC giving India its largest M&A
Last updated on April 7th, 2022 at 03:32 am
In India’s biggest ever M&A merger, HDFC Investments Limited and HDFC Holdings Limited will be merging with the HDFC Bank.
The board of directors of India’s largest mortgage lender HDFC announced the big decision on Tuesday at a press conference . With this, the whole structure may create the country’s third largest entity in India in terms of the market capitalisation.
Analysts are still looking for risks and profits of this amalgamation but the majority of it looks towards the brighter side. The whole process of this tie-up will be completed by the second or the third quarter of FY24.
Related Posts
They stressed that the conclusion will only come after approval by the regulatory approvals but till now they have been focusing on the management structure and other aspects related to the internal matters such as integration process of the two sides as well as reaping benefits for the two.
The board said that other things related to public usage are being considered. Things regarding shifting of accounts from HDFC to HDFC Bank and interest rates are under deep consideration and will be formally announced once they reach a plan. Other than this, for the concerned population, the experts in the field stressed that till the merger wholly takes effect, which will be a 12-18 month process, HDFC Ltd and HDFC Bank will be functioning separately.
