HDFC and HDFC Bank merger to be completed by July 2023

HDFC shares will start trading under the ticker of HDFC Bank from July 13, 2023. This is following the completion of the merger between HDFC and HDFC Bank, which was announced in April 2022.

Eligible shareholders will get 42 shares of HDFC Bank for every 25 HDFC shares held by them. The merger is expected to create a financial services behemoth with a market capitalization of over $200 billion.

Here are some key details of the merger:

1. The combined entity will be called HDFC Bank.
2. The headquarters of the combined entity will be in Mumbai.
3. The board of directors of the combined entity will have 15 members, with 11 members from HDFC Bank and 4 members from HDFC.
4. The merger is expected to be completed by July 12, 2023.

If you are an HDFC shareholder, you can find more information about the merger and the share swap ratio on the HDFC Bank website.