Board of HDFC Bank approves merger of HDFC into HDFC Bank

9 Apr 2022 , 01:35 AM

The Board of HDFC Bank at its meeting held on 04 April 2022 has approved a composite scheme of amalgamation for the amalgamation of i HDFC Investments and HDFC Holdings into and with Housing Development Finance Corporation HDFC; and ii HDFC into HDFC Bank and their respective shareholders and creditors The share exchange ratio for the amalgamation of HDFC with and into HDFC Bank shall be 42 equity shares credited as fully paid up of face value of Rs 1 each of HDFC Bank for every 25 fully paid-up equity shares of face value of Rs 2 of HDFC