Monday, October 3, 2022

HDFC-HDFC Bank Merger: RBI’s ‘yes’ to the country’s biggest corporate deal, BSE-NSE has already approved

The mcap of HDFC Bank is Rs 8.36 lakh crore and that of HDFC is Rs 4.46 lakh crore as of April 01, 2022. The size of the entity that will emerge after the merger is going to be double that of the second-largest private bank ICICI Bank.

The way for the merger of financial services provider company HDFC Limited (HDFC Limited) and its banking subsidiary HDFC Bank (HDFC Bank) has become easier. This biggest deal (HDFC-HDFC Bank Merer) in the history of the country’s corporate world has now been OK by the Reserve Bank of India (RBI). Both the major stock exchanges BSE and NSE have already approved the deal. Now the Reserve Bank has notified that it has given ‘no objection’ to the deal.

These approvals are still needed

HDFC Bank gave this information to BSE late on Monday night. The bank told BSE, “In this regard, it is informed that HDFC Bank has received a letter dated July 04 from the Reserve Bank. According to the letter, the RBI has not raised any objection to the plan of the deal. However, this will be subject to certain conditions mentioned in the letter. In addition, the country’s largest private bank said that the deal will have to take the approval of the Competition Commission of India (CCI), the National Company Law Tribunal (NCLT), and other relevant authorities. In addition, the approval of the shareholders and creditors of the companies involved in the plan may also be required.

This will be the property of the joint body

Earlier on April 04, the country’s largest private bank HDFC Bank had agreed to acquire the country’s largest mortgage company HDFC Ltd. The deal is estimated to be worth around $40 billion. In this sense, it will be the biggest deal ever for the Indian corporate world. The entity we will face after the implementation of this deal will be a very large company in the financial services sector. The combined company that emerges after the merger will have an asset base of around Rs 18 lakh crore. The deal is expected to be completed by the second or third quarter of the financial year 2023-24.

Read More: Bank Holidays July 2022: Banks will be closed for 16 days in July, see the complete list of holidays here before going to the branch.

ICICI Bank will double in size

After the completion of the deal, there will be 100% public shareholding in HDFC Bank. The existing shareholders of HDFC will hold a 41 percent stake in the bank. Each shareholder of HDFC will get 42 shares of the bank for 25 shares. If we look at the balance sheet of December 2021, then overall it comes to Rs 17.87 lakh crore. On the other hand, if we talk about the net worth, then it is collectively Rs 3.3 lakh crore. The mcap of HDFC Bank is Rs 8.36 lakh crore and that of HDFC is Rs 4.46 lakh crore as of April 01, 2022. The size of the entity that will emerge after the merger is going to be double that of the second-largest private bank ICICI Bank.

🔥🔥 Join Our Group For All Information And Update, Also Follow me For Latest Information🔥🔥
🔥 YouTube                  Click Here
🔥 Facebook Page                  Click Here
🔥 Instagram                  Click Here
🔥 Telegram Channel                   Click Here
🔥 Google News                  Click Here
🔥 Twitter                  Click Here


Please enter your comment!
Please enter your name here


Most Popular



Use of phone SIMs will be heavily prosecuted; users of applications like WhatsApp and Telegram who use false IDs risk receiving a year in...

Making a fake ID, using a bogus identity on applications like WhatsApp, Telegram, and Signal, or obtaining a SIM card by providing false documentation...

RBI Repo Rate: A shock to the public before the festive season, EMI will be expensive, RBI increased repo rate by 50 basis points

Inflation Rate: The Reserve Bank of India (RBI) has increased the repo rate by 50 basis points. This will also make your EMI costlier....

Sugar Production: Now the price of sugar will be lower, the sugar mill going to open next month, know the reason

Excess production of sugar in India: There are signs of a reduction in the price of sugar in the country. The operation of sugar...

Due to a current supply issue, the decision to require 6 airbags in cars was postponed, according to Gadkari. The rule will now take...

The decision to require six airbags in M1 category vehicles with up to eight seats has been postponed by the government by one year....

Sushant Singh Rajput’s ex-girlfriend Rhea Chakraborty wore a revealing braless beautiful dress check her photos

Rhea Chakraborty looked stunning on this special occasion. People were attracted to the actress's perfect and curvy figure because she was dressed in such a...

Most Popular


* indicates required