HDFC, HDFC Bank merger: What this mega move means for shareholders, customers

It does not get bigger than this! HDFC Bank and mortgage lender HDFC. Here are the details and the mega merger.

• HDFC to merge into HDFC Bank
  HDFC Ltd will receive shares of HDFC Bank as per approved ratio
• HDFC Ltd as of record date will get 42 shares of HDFC Bank for 25 shares held by HDFC shareholder
• HDFC Bank will be 100% owned by public shareholders and existing shareholders of HDFC Limited will own 41% of HDFC Bank
• HDFC Limited is India’s largest housing finance company with a total AUM of Rs 5.26 lakh crore
• HDFC Bank, India's largest private sector bank by assets with market cap of Rs 8.35 lakh crore
• Bank has requested RBI for phased implementation of higher requirements of reserves - CRR, SLR
• Lower cost of loans will be available for housing loan customers.
• HDFC will cease to exist after merger is complete
• Completion of Merger Process: Expected by Q2 / Q3 FY24 (December 2023)

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