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M&A value nosedives 75% to $32.6 bn in H1 of 2023 despite record volume

The value of merger and acquisition (M&A) deals plunged 75 per cent to USD 32.6 billion in the first half of 2023 even as the number of such deals crossed an all-time high of 1,400, according to industry data. More than 1,400 transactions in the first half, up 5.2 per cent on-year, made the first half of 2023 busiest semiannual period in terms of number of deals since records began in 1980. But the overall value of M&As fell 75 per cent to USD 32.6 billion during the period due to the lack of mega deals above USD 5 billion, unlike last year when the HDFC twins announced the USD 40 billion record-breaking deal last April, according to financial markets data provider Refinitiv, a part of the London Stock Exchange Group. The volume rose because the market saw a healthier level of mid-market transactions dominating the deal street. No deals bigger than USD 1 billion was announced during the first quarter of 2023, but there were four deals within the USD 1-billion range announced ..

JSW Steel to replace HDFC in 30-share S&P BSE Sensex from Jul 13

In S&P BSE 500, JBM Auto Components Ltd will replace HDFC and in S&P BSE 100, Zomato will be included in place of the mortgage lender

HDFC evaluates promoter Jain's offer for 2 Radisson Blu hotels in Ghaziabad

The total outstanding loan for the hotel properties amounts to Rs 507 crore and the loan has been categorised as a special mention account (SMA) 2, as of June

HDFC Bank-HDFC's combined loan book up 13.1%; deposits up 16.2% in Q1

Sequentially, merged entity's advances rose by 0.7% to Rs 22.30 trillion as of March 31

For advising on $64 billion HDFC Bank deal, bankers get a 0.0002% fee

HDFC's all-stock merger into HDFC Bank Ltd., which created one of the most valuable banks in the world, has about 18 advisers who got credit for a fee pool of just over $1 million

HDFC Bank: Despite merger, stock may remain sideways, caution analysts

Shares of HDFC Bank gained 3.2 per cent on the BSE in Monday's intra-day trade to hit a fresh record high of Rs 1,758 apiece

How HDFC merger impacts home loan borrowers, FD investors, account holders

The terms of your FD along with interest rates, interest computation methodology, tenure, maturity instructions and pay-outs will remain same until maturity/renewal of your FD.

HDFC twins gain up to 3% after they fix July 13 as record date for merger

HDFC Bank hit a record high of Rs 1,744.70, while HDFC hit a 52-week high of Rs 2,900.60. The stocks have rallied 7 per cent in the past four trading days

Top headlines: HDFC Bank to become top weight, FPI inflow hit 10-month high

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Merger raises HDFC Bank's total business to over Rs 41 trn in FY23

The reverse merger of HDFC with its subsidiary HDFC Bank effective Saturday has increased the total business of the merged entity to over Rs 41 lakh crore, closer to the country's biggest lender SBI. The total business (deposit and advances) of State Bank of India (SBI) stood at Rs 70.30 lakh crore at the end of March 31, 2023. However, the combined profit is higher at Rs 60,000 crore as compared to Rs 50,232 crore recorded by SBI in FY23. Post-merger, HDFC Bank became the fourth most valued lender in the world, and narrowed the gap by asset size with state-owned SBI to be the second largest Indian bank. The total business of the merged entity stood at Rs 41 lakh crore at the end of March 2023. With the merger, the networth of the entity would be over Rs 4.14 lakh crore. Following the merger, the capital of HDFC Bank increased to Rs 1,190.61 crore with the power to increase or reduce the share capital. HDFC Investments and HDFC Holdings have been amalgamated with and into HDFC ..

Mistry, Karnad to join HDFC Bank board, CFO Rangan to be executive director

The merger of HDFC with HDFC Bank created a banking behemoth with a market cap of $180 billion - the fourth largest bank in the world

HDFC Bank starts rebranding HDFC Ltd offices, branches after merger

HDFC Bank started rebranding offices of erstwhile HDFC Ltd with its colours on Saturday, on the first day of operations as a merged entity. Branding at all over the 500 offices and branches of the home loan major started getting the HDFC Bank look from Saturday morning onwards, officials said. The entire exercise of changing the look at HDFC Ltd's offices and branches is slated to take about 24 hours, they said, adding that HDFC Ltd's corporate headquarters at Ramon House is among the places where the branding has already been changed. HDFC Ltd, the parent of the country's largest private sector lender, merged into HDFC Bank on Saturday, with boards of both the entities clearing the plan first presented on April 4 last year. HDFC Ltd, the largest pure-play home financier, ceases to exist 44 years after it was founded. Sashidhar Jagdishan, the managing director and chief executive of the HDFC Bank, is slated to address a townhall later in the evening. Over 3,500 employees of HDFC ha

Top headlines: HDFC-HDFC Bank merger, OMCs and discounts on Russian crude

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Home loan pioneer finds a new home: HDFC journey will complete on July 1

The journey will complete on July 1, 2023, the date on which the merger with HDFC Bank comes into effect

Recipe for Keki Mistry's secret sauce: Growth seasoned with governance

Starting his career in 1975 with accountancy firm A. F. Ferguson & Co., he later had brief stints at Hindustan Unilever and Tata Group's hospitality arm, Indian Hotels Company

Deepak Parekh passes the baton to 'Sashi' with 'hope and anticipation'

Parekh also touched upon the issue of work culture, which is seen as a crucial piece in any merger

HDFC Bank will preserve 'HDFC way of working' after merger: Deepak Parekh

Parekh said that the cross-selling of assets and liabilities of HDFC's home loan business will be done 'seamlessly' through their digital platforms.

Homegrown bank giant bigger than Morgan Stanley to arise from India merger

The tieup of HDFC Bank & Housing Development Finance Corp creates a lender that ranks 4th in equity m-cap, behind JPMorgan Chase, Industrial and Commercial Bank of China and Bank of America Corp

Sebi sees no need for more time to MFs for realigning portfolios in HDFC

The market regulator Sebi does not see any need for giving more time to mutual fund houses with large holdings in the merger-bound HDFC twins, to realign their portfolios post-merger since there's no material data and given the highly liquid nature of these stocks demanding such an extension. In the biggest merger in the history of India Inc, HDFC in April 2022 said it would merge with its own banking subsidiary in a USD 40-billion all-stock deal -- after 46 years of being a home loan financier and in between creating the country's largest private sector bank and four other financial sector brands in the insurance, AMC and brokerage businesses. And this Tuesday (June 27), HDFC chairman Deepak Parekh said the boards of the Corporation and HDFC Bank will meet on June 30 to finalise the last contours of the merger which is expected to be effective July 1.. He has also said that would be the last meeting of HDFC board and also his as the chairman after working in the company from day on