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Language , Updated: Aug 9, 2022, 5:02 PM
New Delhi, Aug 9 (PTI) Housing mortgage supplier HDFC Ltd has won approval from the National Housing Bank (NHB) for merger with its subsidiary HDFC Bank. Giving this data in a verbal exchange despatched to the inventory exchanges on Tuesday, the corporate mentioned that the NHB has additionally licensed the merger with two subsidiaries of HDFC – HDFC Investments and HDFC Holdings Ltd. HDFC mentioned, “We would like to inform that NHB vide its letter dated 8th August, 2022 has given a no-objection letter for the proposed scheme of HDFC.” of assets
Giving this data in a verbal exchange despatched to the inventory exchanges on Tuesday, the corporate mentioned that the NHB has additionally licensed the merger with two subsidiaries of HDFC – HDFC Investments and HDFC Holdings Ltd.
HDFC mentioned, “We would like to inform that NHB vide its letter dated 8th August, 2022 has given a no-objection letter for the proposed scheme of HDFC.”
HDFC Ltd, the rustic’s greatest housing lender by means of asset dimension, has already won approval from the Reserve Bank of India, the Securities and Exchange Board of India and the inventory exchanges (NSE and BSE) on its proposed merger with HDFC Bank.
However, this merger plan continues to be topic to the approval of quite a lot of statutory and regulatory our bodies together with Competition Commission of India, NCLT and the respective shareholders and collectors of each the corporations.
