Also, HDFC Bank and IIFL Securities will act as investment bankers and work with the government and handle the share sale offers, the official said
The proposed combination envisages the merger of HDFC Investments and HDFC Holdings with HDFC Ltd in the first step and subsequently, the merger of HDFC Ltd into HDFC Bank.
Some are 'Midnight's Children' whose pre-Independence businesses bloomed after 1947, some 'Licence Raj Warriors' who refused to let red-tapeism slow them down. A look at 25 towering business leaders
The firm currently has a user base of 100,000 enterprises and processes transactions worth about Rs 28,000 cr a year
Business Standard brings you the top headlines at this hour
Market players seek clarity from exchanges on the exclusion rule
Mortgage major HDFC has received approval from the National Housing Bank (NHB) for its merger with subsidiary HDFC Bank, a regulatory filing said on Tuesday.
Axis' Amitabh Chaudhry the highest paid among bank CEOs
The official website, bseindia.com states that August 9 will be a market holiday, which would mean that there will be no trading in equity segment, equity derivative segment and SLB degment
Most banks have revised their external benchmark linked loan rates by 50 bps
The parent-subsidiary merger is seen as the biggest transaction in India's corporate history
HDFC Bank Parivartan on Tuesday signed a memorandum of understanding with the Indian Institute of Science, pledging Rs 107.76 crore for construction of Bagchi-Parthasarathy Hospital at IISc Bengaluru. The three wings of the hospital to be supported by the bank are cardiology, radiology and emergency medicine, it said in a statement. IISc is setting up a multi-speciality, not-for-profit, 832-bed hospital, called the Bagchi-Parthasarathy Hospital along with a Postgraduate Medical School within its Bengaluru campus. The hospital is expected to be fully functional by the end of 2024 while the first batch of MD/PhD students will be admitted in 2025. Group Head, ESG & CSR, Business Finance & Strategy, Administration and Infrastructure, HDFC Bank, Ashima Bhat, said: The new hospital and the medical school will not only bolster the healthcare needs of the entire region but will also provide a new generation of physician-scientists".
Stocks to Watch today: ITC, UPL, Zomato, Arvind, Bajaj Consumer Care, among others will release their Q1 earnings today.
Business Standard brings you the top headlines at this hour
For domestic deposits worth Rs 2 crore to less than Rs 5 crore with a tenure of one year to less than 15 months, HDFC Bank offers 6.25 per cent, data on the lender's website showed
The window, which is available on Wednesday and Thursday, offers an annual rate of 6.80 per cent on NRE deposits worth Rs 2 crore to less than Rs 150 crore
Vivo T1x will be made available for purchase tomorrow from 12 pm onwards. Apart from Flipkart, the smartphone can also be purchased from Vivo's official website
RBI's interventions and a less hawkish view on US Federal Reserve among factors that help currency
According to the latest June quarter shareholding data, the FII shareholding in HDFC Bank and HDFC Ltd has declined to 65.81 per cent and 67.7 per cent, respectively
HDFC Bank Q1 review: Issues with management's bandwidth in managing the balance sheet post merger remains key risks for upside, said Nomura