India's biggest M&A ever sees $40bn merger of HDFC Bank and its top shareholder 

Mark Battersby
clock • 1 min read

Giant private lender HDFC Bank is merging with its top shareholder in a $40bn deal that makes it India's biggest ever. HDFC Bank's deal with mortgage lender firm HDFC Ltd, which owns 21% of the firm, will aim to grow its 68 million customers and expand the range and type of home loans offered to customers.  Every HDFC shareholder will get 42 shares of HDFC Bank for every 25 shares held, the two companies said in a statement on 4 April.  The proposed entity will have a combined asset base of around Rs 18 lakh crore. The merger is expected to be completed by the second or third quart...

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