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On 4 April 2022, HDFC Ltd announced that it would merge with HDFC Bank, marking India's largest-ever M&A deal. [24] [25] As part of the merger, HDFC Ltd would transfer its home loan portfolio to HDFC Bank, while the bank offered depositors of HDFC Ltd the choice of either withdrawing their money or renewing their deposits with the bank at the interest rate that the bank was then offering.
HDFC holds 26.14% of shares in HDFC Bank. HDFC Bank sources home loans for HDFC for a fee. [22] The key business areas of HDFC Bank are wholesale and retail banking and treasury operations. As of April 2023, its market capitalisation was ₹ 941,386 crore (US$110 billion), making it India's third largest publicly traded company. [23]
This page was last edited on 10 February 2024, at 16:39 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
HDFC Securities is the stock-broking arm of India’s largest private-sector lender, HDFC Bank, [2] and began operations in April 2000. It began as a joint venture between HDFC Bank Limited, HDFC Limited and Indocean eSecurities Holdings Limited. [3] Along with its stock broking services, HDFC Securities is a distributor of financial products.
PhonePe Type of business Private Type of site Digital payments & Financial services Available in Multilingual (11) Founded 2015 ; 9 years ago (2015) Headquarters Salarpuria Softzone, Bengaluru, Karnataka, India Area served India Founder(s) Sameer Nigam (Co-Founder & CEO) Rahul Chari (Co-Founder & CTO) Burzin Engineer (Co-Founder & CRO) Industry Fintech, Financial services, Payment gateway ...
HDFC Bank sought permission from regulators to merge with its parent HDFC and merged. This led to a lot of probable capital holding violations for which the combined entity was given a year to bring under statutory limits. Before the merger, HDFC swapped its group company Gruh Finance to Bandhan bank for a 15% stake in its combined capital.
Merger information can be added just to HDFC Bank. Dcotos (talk) 18:26, 31 December 2023 (UTC) I agree with @Dcotos. Merging is best solution, there's no need for a separate page. Charlie 10:15, 12 January 2024 (UTC) Agree with the merge. The merger is not notable enough for a standalone article.
HDFC may refer to: Housing Development Finance Corporation, an Indian mortgage company; HDFC Bank, an Indian financial services company; HDFC Life, a joint venture of Housing Development Finance Corporation and Standard Life plc; HDFC Bank of Sri Lanka, a Sri Lankan specialised housing bank