According to the information provided by HDFC Bank, no objection has been registered in the observation letter received by BSE. Nor has any objection been raised in the letter received from NSE. Both letters have been received by the company on July 2, 2022, for approval on HDFC Bank and HDFC Merger.
The proposed merger of HDFC Bank and HDFC has been approved by the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). According to the information provided by HDFC Bank, both exchanges have not raised any objection to this merger proposal.
This is great news for the company. However, even after the approval of the merger proposal, Monday sees pressure on the shares of both companies.
Stock Exchange Approved HDFC Bank and HDFC Merger Approved
According to the information provided by HDFC Bank, no objection has been registered in the observation letter received by BSE. Nor has any objection been raised in the letter received from NSE. Both letters have been received by the company on July 2, 2022.
We tell you that in April of this year the merger of HDFC Bank was announced. This proposed merger still needs to get approval from other regulatory bodies. HDFC Bank has said that this merger proposal still needs to be approved by RBI, CCI, the National Court of Justice, and the shareholders of both companies.
In this proposed merger, HDFC shareholders will get 42 shares of HDFC Bank for every 25 shares. After the merger, the market capitalization of HDFC Bank will be Rs 12.8 crore. At the same time, your balance will become 17.9 lakh crores.
With this merger, the subsidiary companies of HDFC will also merge with HDFC Bank under the process of HDFC Bank and HDFC Merger. This will give HDFC Bank a lot of strength. With this merger, customers will be able to get other facilities like banking and home loans from one place. Let us tell you that today HDFC Bank is the largest private sector bank in the country.
Also Check: HDFC Savings Account Types
