The planned completion date for the merger of HDFC-HDFC Bank is currently July 1. The earliest record date is presently July 13. The formalities between the two parties are getting closer to being finished.
After the merger, the combined market capitalization of HDFC-HDFC Bank will be greater than that of all government-owned banks as well as the top 4 private lenders in India, ICICI Bank Ltd, Kotak Mahindra Bank Ltd, Axis Bank Ltd, and Indusind Bank Ltd.
The final day that HDFC Ltd. will trade on the bourses is today. The market value of the mortgage lender is Rs 5.19 trillion, compared to Rs 9.47 trillion for HDFC Bank Ltd. The merged HDFC-HDFC Bank after the merger is expected to have a value of Rs 14.7 trillion, or $177.10 billion.
The top 4 private lenders, ICICI Bank, Kotak Mahindra Bank, Axis Bank, and IndusInd Bank, have a combined market value of Rs 14.3 trillion, compared to the 13 PSU banks’ total market value of Rs 9.77 trillion.
The combined HDFC-HDFC Bank will rank as the 61st most valuable enterprise globally, earning a spot in the top 100 league. With a market valuation of $3 trillion, Apple now tops the group, followed by Microsoft ($2.50 trillion) and Saudi Arabian Oil Co., also known as Saudi Aramco ($2.08 trillion).
It will rise to the fourth-most valued position globally among lenders. With a market worth of $405 billion, JP Morgan Chase has surpassed Bank of America and Industrial and Commercial Bank of China to become the world’s most valuable lender.
Additionally, the amalgamated HDFC organization will outperform major international banks including HSBC Holdings, Bank of China, Morgan Stanley, and Royal Bank of Canada.
The planned completion date for the merger of HDFC-HDFC Bank is July 1. The earliest record date is presently July 13. The paperwork for both entities are getting closer to being finished.
After the merger, shareholders of HDFC Ltd will own 41% of HDFC Bank. For every 25 shares of HDFC Ltd., the bank will continue to issue 42 shares of HDFC Bank, maintaining a swap ratio of 25:42.
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