The HDFC-HDFC Bank merger will be effective from July 1

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The biggest merger in the history of India

Ahmedabad: The merger of India's largest home loan institution HDFC Limited and private sector giant HDFC Bank was announced on Tuesday. The merger of both the financial giants will become effective with the beginning of the new month. HDFC Chairman Deepak Parekh has said in a statement that the board meeting is going to be held on June 30. With this, trading in HDFC shares will stop from the middle of next month.

According to the information provided by Deepak Parekh, the merger will be effective from July 1. Separate board meetings of HDFC Limited and HDFC Bank will be held on June 30.

After this, HDFC shares will be delisted on July 13 and HDFC Bank shares will be given to the shareholders of HDFC Limited. HDFC products and services will be available at all branches of HDFC Bank.

After the merger with HDFC Limited, HDFC Bank will become the 10th largest bank in the world. Under the merger process, in July, 2023, shareholders of HDFC Limited will get 42 shares of HDFC Bank for every 25 shares they hold. This is the biggest merger in the history of the corporate world. The combined assets of HDFC after this merger will be more than 18 lakh crore.

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