HDFC – HDFC Bank Merger.. National Companies Law Tribunal approves! – National company law tribunal approves merger of hdfc bank and hdfc as a part of regulatory approvals

HDFC Bank is India’s largest private bank. HDFC Ltd is also a leading financial institution in providing home loans. The National Company Law Tribunal (NCLT) today approved the merger of these two companies. It was announced on April 4 last year that HDFC Bank and HDFC would be merged. It is considered to be the largest transaction in Indian corporate history. The deal is worth $40 billion.

With this merger, HDFC Bank is set to become a giant. The combined assets of the two companies will be around Rs 18 lakh crore. The HDFC-HDFC Bank merger is expected to be completed in the coming financial year 2023-24.

The HDFC-HDFC Bank merger is subject to approvals from various regulatory bodies. First, the RBI approved the merger. Also, the Insurance Regulatory Authority IRDAI approved.

This was followed by approval from PFRDA, the pension regulatory authority. Indian stock markets have also given their nod. Essentially the shareholders of both the companies have given their consent. In line with this, the National Company Law Tribunal (NCLT) today also approved the HDFC-HDFC Bank merger.

Currently HDFC Bank is the largest private bank in India. ICICI Bank is the second largest private bank. In this case, HDFC Bank will double the size of ICICI Bank after the HDFC – HDFC Bank merger.

HDFC Bank share price rose to Rs 1578.65 at the close of trading today. HDFC shares rose to Rs 2577.45.