Respective Board of Directors of HDFC HDFC Bank approve all-stock amalgamation Chairman Parekh

Chairman of HDFC Ltd Deepak Parekh on April 04 informed that Board of Directors of HDFC Ltd and Board of Directors of HDFC Bank, at their respective meetings, approved an all-stock amalgamation of HDFC with HDFC Bank. He further said that the merger will become effective only upon attaining all approvals by RBI, SEBI and such other regulatory approvals. “Only upon attaining all approvals by RBI, SEBI and such other regulatory approvals, the merger will become effective. HDFC will merge with HDFC Bank, shareholders of HDFC will receive shares of HDFC Bank in exchange of share in HDFC at approved share exchange ratio,” said Deepak Parekh.