HDFC Bank and HDFC Ltd Merger

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Big news has come from the stock market on Monday 4th April. HDFC Limited and HDFC Bank have announced a transformational merger.

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After the merger of HDFC, HDFC's stake in HDFC Bank will be 41 percent. Housing Development Finance Corporation (HDFC) gave this information this morning.

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In today's board meeting, approval has been given for the merger of HDFC with HDFC Bank. Due to this news, today there is a huge bullish atmosphere in the shares of HDFC and HDFC Bank.

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HDFC and HDFC Bank Share Price

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After the news of the merger, today HDFC's stock is trading with a gain of Rs 367.80 and HDFC Bank's share is trading with a gain of Rs 205.50.

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Share Exchange Ratio of HDFC Bank and HDFC: For 25 fully paid up equity shares of HDFC Bank with face value of Rs 2 each, HDFC Bank will get 42 fully paid up shares of face value of Re 1 face value.

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HDFC said the proposed deal is aimed at improving HDFC Bank's housing loan portfolio and expanding its existing customer base.

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According to sources, this merger of HDFC and HDFC Bank will be completed by the second or third quarter of the financial year 2024.

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HDFC Bank share Details NSE: HDFCBANK Work Area: Banking Mkt cap: 9.08LCr P/E ratio: 25.27 Div yield: 0.40% Today Open: 1,580.00 Today High: 1,722.10 Today Low: 1,562.55

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HDFC HDFC Ltd share Details NSE: HDFC Mkt cap: 4.83LCr P/E ratio: 22.48 Div yield: 0.86% Today's Open: 2,570.50 Today's High: 2,933.80 Today's Low: 2,570.50

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