HDFC Operational & Financial Highlights
GHDFC
WITH YOU, RIGHT THROUGH
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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
Subsidiaries/associates of HDFC Limited will become subsidiaries/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
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Till date, the stock exchanges (NSE & BSE), Pension Fund Regulatory and Development Authority, SEBI and RBI have
accorded "no objection" for the above scheme
• The scheme was approved by shareholders of the Corporation at the shareholders' meeting convened by National
Company Law Tribunal on November 25, 2022
• The merger proposal is subject to various statutory and regulatory approvals
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