HDFC Bank’s share price on BSE rose more than 13% to reach Rs 1712.45. The share price of Housing Development Finance Corporation Ltd or HDFC Ltd on BSE rose more than 15% to Rs 2818.55.
Under the deal, HDFC Ltd shareholders will receive 42 shares of the bank for every 25 shares held.
HDFC Bank’s share price jumped 10%, while Housing Development Finance Corporation Ltd or HDFC Ltd’s share price climbed 13% in early morning trading on Monday.
It comes after the two companies said India’s largest private lender, HDFC Bank, would merge with the country’s largest housing finance company, HDFC Ltd to create a financial services conglomerate, according to a Reuters report.
HDFC BANK SHARE PRICE
HDFC Bank’s share price on BSE rose more than 13% to reach Rs 1712.45. On NSE, HDFC Bank’s share price rose 13% to 1,702 rupees.
You can check the real-time stock price at https://www.bseindia.com/stock-share-price/hdfc-bank-ltd/hdfcbank/500180/
HDFC LTD SHARE PRICE
Housing Development Finance Corporation Ltd or HDFC Ltd share price on BSE rose more than 15% to Rs 2818.55. HDFC Ltd share price on NSE rose 15% to Rs 2,820.
Investors can follow Housing Development Finance Corporation Ltd’s share price at https://www.bseindia.com/stock-share-price/housing-development-finance-corpltd/hdfc/500010/.
MERGER OF HDFC BANK AND HDFC LTD
Under the deal, HDFC Ltd shareholders will receive 42 shares of the bank for every 25 shares held. The current shareholders of HDFC Ltd will own 41% of HDFC Bank.
The shares held by the housing finance company in the lender will be extinguished, making HDFC Bank a public company in its own right.
“The resulting larger balance sheet would allow for the underwriting of large infrastructure loans, accelerate the pace of credit growth in the economy, stimulate affordable housing, and increase the amount of credit to the priority sector…” the president said. of HDFC Ltd, Deepak Parekh.
HDFC BANK, HDFC LTD MARKET VALUE
As of Friday’s close, HDFC Bank had a market value of 8.34 trillion rupees ($110.06 billion), while HDFC Ltd was worth 4.44 trillion rupees ($58.59 billion).
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