HDFC –HDFC Bank Deal After 15 Months, Will Be Double The Size Of ICICI Bank

The mega-merger of HDFC and HDFC Bank will be effective from the first of July. According to Deepak Parekh, chairman of the housing finance company, the boards of both companies will hold separate meetings on Friday after office hours to approve the effective date of the merger. He added that HDFC shares will be delisted from the exchanges on the 13th of July. As per the share swap ratio, HDFC shareholders will get 42 shares of HDFC Bank for every 25 shares held.