There was a torrent of memes on the internet due to the absence of news about the merger of hdfc and hdfc Bank. hdfc and hdfc bank will be amalgamated. Many folks are taken aback by this news.
This was done so that no one could find out. On april 4, the board of directors of hdfc announced the merger of the company's subsidiaries hdfc Investments and hdfc Holdings with HDFC. hdfc will be amalgamated with hdfc bank as a result of this.
Following this merger, hdfc will own 41 percent of hdfc Bank. The merger might be
finalised as early as the second or third quarter of the fiscal year 2024.
According to hdfc, the proposed transaction will boost hdfc Bank's home credit portfolio and expand its existing client base.
The most intriguing aspect is that no one was aware of the situation, and the online world was unable to accept it. "Never in my 36-year investing adventure has it happened that in one day that too hdfc ltd 15 per cent and hdfc bank 14 per cent simultaneously," a banker tweeted.
Another commenter stated on Twitter, "This merger has been discussed among investors for numerous years. But the timing is incredible. The announcement did not go ignored by anybody who has spoken about hdfc Group's exceptional corporate governance. I tell you."
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