HDFC to merge with HDFC Bank to create third most valuable company in the country
- HDFC Limited will merge with HDFC Bank, creating a banking behemoth.
- The merger is set to make the company the third most valuable in the country.
- HDFC will acquire a 41% stake in HDFC Bank through the transformational merger and HDFC Limited Chairman Deepak Parekh has described it as a merger of equals.
- He said mergers will enhance the diversity of assets of the combined entity.