HDFC Bank-HDFC Merger: A Milestone in India’s Corporate History with Far-Reaching Implications

Merger Approval: HDFC and HDFC Bank boards clear the proposal for merger

Ceasing of HDFC Ltd: From July 1, HDFC Ltd, the first home finance company in India, loses its identity

Effective Date: July 1, 2023, set as the effective date of the amalgamation scheme

Shareholders’ Issuance: July 13, 2023, fixed for issuing shares of HDFC Bank to HDFC Ltd shareholders

Business and Net Worth: Merged entity holds Rs 41 lakh crore in business and a net worth of over Rs 4.14 lakh crore

Combined Profit: Combined profit of HDFC Bank and HDFC at approximately Rs 60,000 crore

Market Weightage: HDFC twins’ combined shares hold a weightage of close to 14% on indices

Financial Services Titan: Merger creates a financial services giant with a combined asset of over Rs 18 lakh crore

Integrated Financial Services: HDFC Bank transforms into a conglomerate offering banking, insurance, and mutual funds