HDFC Business and ESG Overview
Li HDFC
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MATERIAL DEVELOPMENTS
Proposed Transformational Combination of HDFC with HDFC Bank
On April 4, 2022, the Board of Directors of HDFC and HDFC Bank at their respective meetings,
approved a composite scheme of amalgamation (Scheme) for:
■ The amalgamation of HDFC's wholly owned subsidiaries, HDFC Investments Limited and HDFC
Holdings Limited, with and into HDFC; and
HDFC with and into HDFC Bank
Subsidiary/associates of HDFC Limited will become subsidiary/associates of HDFC Bank
• Shareholders of HDFC as on the record date will receive 42 shares of HDFC Bank (FV Re. 1 each) for 25
shares of HDFC (FV Rs. 2 each)
⚫ HDFC's shareholding in HDFC Bank will be extinguished upon the Scheme becoming effective
• Post the above, HDFC Bank will be 100% owned by public shareholders and existing shareholders of
HDFC will own 41% of HDFC Bank
.
Transaction completion is subject to shareholders, creditors and regulatory approvals as applicable
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