NBFC major HDFC on Friday said the National Company Law Tribunal (NCLT) has approved two wholly owned subsidiaries HDFC Property Ventures (HPVL) and HDFC Venture Capital (HVCL) along with HDFC Capital Advisors (HCAL) ahead of the $40 billion merger deal with HDFC Bank. ) has approved the scheme of amalgamation. , On BSE, HDFC share price ended up 2% 2,645.85 per share.
NBFC major HDFC on Friday said the National Company Law Tribunal (NCLT) has approved two wholly owned subsidiaries HDFC Property Ventures (HPVL) and HDFC Venture Capital (HVCL) along with HDFC Capital Advisors (HCAL) ahead of the $40 billion merger deal with HDFC Bank. ) has approved the scheme of amalgamation. , On BSE, HDFC share price ended up 2% 2,645.85 per share.
As part of the merger deal with HDFC Bank, HDFC had e-filed an application with the NCLT in August last year for merger of HPVL and HVCL with HACL.
As part of the merger deal with HDFC Bank, HDFC had e-filed an application with the NCLT in August last year for merger of HPVL and HVCL with HACL.
Subsequently, the NCLT gave its approval for the merger of the two real estate private equity investment companies on March 3, 2023.
Subsequently, the NCLT gave its approval for the merger of the two real estate private equity investment companies on March 3, 2023.
Earlier in July last year, market regulator SEBI had approved the change in control of HDFC Property Ventures.
Earlier in July last year, market regulator SEBI had approved the change in control of HDFC Property Ventures.
In April last year, the boards of HDFC and HDFC Bank had approved a comprehensive scheme of amalgamation, where subsidiaries of HDFC would become subsidiaries of HDFC Bank. This will result in an overall merger of HDFC with HDFC Bank.
In April last year, the boards of HDFC and HDFC Bank had approved a comprehensive scheme of amalgamation, where subsidiaries of HDFC would become subsidiaries of HDFC Bank. This will result in an overall merger of HDFC with HDFC Bank.
Under the proposed scheme, shareholders of HDFC will receive 42 shares (of face value of Re 1 each) of HDFC Bank for every 25 shares held in HDFC (face value of Rs 1 each) 2). and the equity shares held by HDFC in HDFC Bank will be liquidated upon completion of the scheme.
Under the proposed scheme, shareholders of HDFC will receive 42 shares (of face value of Re 1 each) of HDFC Bank for every 25 shares held in HDFC (face value of Rs 1 each) 2). and the equity shares held by HDFC in HDFC Bank will be liquidated upon completion of the scheme.
After the transaction, HDFC Bank will be 100% owned by public shareholders, and existing shareholders of HDFC will own 41% of the private sector bank.
After the transaction, HDFC Bank will be 100% owned by public shareholders, and existing shareholders of HDFC will own 41% of the private sector bank.
Together, the combined entity is expected to bring complementary strengths of the two organizations, enabling a rewarding client relationship.
Together, the combined entity is expected to bring complementary strengths of the two organizations, enabling a rewarding client relationship.
Mortgage will be offered as a core product to the customers of HDFC Bank in a seamless manner. The bank’s customers will also leverage the long-term mortgage relationship to offer a variety of credit and deposit products enabled through better insights into the customer life-cycle. This will result in an enhanced value proposition and customer experience for all customers of the combined entity.
Mortgage will be offered as a core product to the customers of HDFC Bank in a seamless manner. The bank’s customers will also leverage the long-term mortgage relationship to offer a variety of credit and deposit products enabled through better insights into the customer life-cycle. This will result in an enhanced value proposition and customer experience for all customers of the combined entity.
This will be one of the biggest mergers in the corporate history of the country.
This will be one of the biggest mergers in the corporate history of the country.