HDFC and HDFC Bank merger proposal gets nod from bourses

HDFC and HDFC Bank merger proposal

The proposal for the merger of HDFC and its banking company HDFC Bank, the largest operation in the history of Indian companies, has been approved by the stock exchange.

Both HDFC and HDFC Bank found no opposition in both markets.

HDFC Bank received a ‘non-negative’ observation letter from BSE Limited and a ‘non-objectionable’ letter from the National Stock Exchange of India Limited, both dated 2 July 2022, HDFC Bank said in a file.

“The system remains subject to various legal and regulatory mandates among others including authorization from the Bank of India, the Competition Commission of India, the National Company Law Tribunal, and the relevant shareholders and creditors to companies involved in the scheme, as may be required,” he said.

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