After the merger, HDFC Bank ranks as the seventh-largest lender globally

18 Jul 2023 , 01:11 PM

When HDFC Bank and HDFC merged, the combined company’s market capitalization increased to $154 billion, or Rs 12.66 lakh crore, making it the seventh-most valuable bank in the world.

Now, Bank of China and Royal Bank of Canada are outperformed by HDFC Bank in terms of market value. After the owners of HDFC were given shares of HDFC Bank, the combined company was listed on Monday.

Foreign portfolio investors own 53.93% of the combined HDFC Bank, according to the most recent shareholding data revealed on Monday. 2.67% of the stock is owned by the Singaporean government, and 1.21% is held by the Invesco Markets Fund. Insurance companies own 8.71% of the bank, while mutual funds possess a total of 19.16%. 12.81% are held by retail investors.

The $154 billion market worth of HDFC Bank is almost twice as much as that of its rivals ICICI Bank ($82 billion) and State Bank of India ($64 billion). In the list of the most valuable banks in the world, ICICI Bank comes in at number 16 and SBI comes in at number 22. As part of the agreement, HDFC Bank distributed 311.04 crore additional shares to HDFC stockholders on Friday.

For every 25 HDFC shares owned, an investor receives 42 HDFC Bank shares. On July 1, HDFC Bank and HDFC’s $40 billion merger became official. On July 13, trading in HDFC Ltd. shares was suspended on stock markets.

For feedback and suggestions, write to us at [e-mail]