HDFC share price surges 15%, HDFC Bank 13%, on merger news.
HDFC Bank will be 100% owned by public shareholders and existing shareholders
HDFC Limited will own 41% of HDFC Bank with combined balance sheet of Rs 17.87 trillion and Rs 3.3 trillion networth enabling larger underwriting at scale
HDFC Bank share price rose 13 per cent on announcement of a transformational merger with HDFC Ltd.
The share exchange ratio for the amalgamation of HDFC with HDFC Bank shall be 42 shares
HDFC Bank for every 25 fully paid up equity shares of HDFC, it said
This merger is the biggest surprise move to markets and is a win-win call for all stakeholders.
This merger will create biggest financial services conglomerate to compete globally
HDFC Bank was quoting at Rs 1,713.70, up Rs 13.77 per cent, and HDFC was quoting at Rs 2,818.55, up 15 per cent on the BSE.
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