𝐇𝐃𝐅𝐂-𝐇𝐃𝐅𝐂 𝐁𝐚𝐧𝐤 𝐦𝐞𝐫𝐠𝐞𝐫: 𝐎𝐧 𝐠𝐥𝐨𝐛𝐚𝐥 𝐬𝐭𝐚𝐠𝐞 𝐭𝐨𝐝𝐚𝐲, $𝟏𝟖𝟎 𝐛𝐧 𝐛𝐚𝐧𝐤𝐢𝐧𝐠 𝐠𝐢𝐚𝐧𝐭. Boards of both companies give their final approval for amalgamation
The boards of directors of HDFC and HDFC Bank have approved the merger of the two with effect from July 1, 2023, both companies informed the stock exchanges late on Friday. Following the amalgamation, HDFC Bank would be the fourth-largest bank in the world with a market capitalisation of Rs 14.73 trillion, or nearly $180 billion. On July 13, shareholders of HDFC will be issued shares of HDFC Bank, and HDFC shares will not be traded on the exchanges.
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