The shares in the lender held by the housing finance company will expire, making HDFC Bank a fully-fledged public company
The shares in the lender held by the housing finance company will expire, making HDFC Bank a fully-fledged public company
India’s largest private lender, HDFC Bank, will merge with housing lender HDFC Ltd, the companies announced on Monday.
As part of the transaction, HDFC Ltd shareholders will receive 42 shares in the bank for every 25 shares held. Existing shareholders of HDFC Ltd will own 41% of HDFC Bank.
The shares in the lender held by the housing finance company will expire, making HDFC Bank a fully-fledged public company.
HDFC Ltd’s subsidiaries and associates will transfer to HDFC Bank, the companies said in a regulatory filing.
More details are awaited.
