Poket News

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.