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The value of the shares of the two companies has risen by more than ten per cent since its board of directors approved the merger of HDFC Bank with HDFC Bank.
The Board of Directors has approved the merger of HDFC Bank, a housing development finance company, and its subsidiaries with HDFC Bank. The merger is expected to close in the second or third quarter of fiscal 2024. Accordingly, holders of 25 shares of HDFC Bank will be allotted 42 shares of HDFC Bank.
Following the merger, HDFC Bank will hold a 41 per cent stake in HDFC Bank.