HDFC To Merge With HDFC Bank, Shares Zoom Over 15% | Read
Mortgage lender HDFC on Monday announced that it will merge with private lender HDFC Bank. "The share exchange ratio for the amalgamation of the Corporation (HDFC Ltd) with and into HDFC Bank shall be 42 equity shares (credited as fully paid up) of the face value of Re 1 each of HDFC Bank for every 25 fully paid-up equity shares of the face value of Rs 2 each of the Corporation," HDFC stated in a regulatory filing.
