MAS Ratified Merger HDFC Investments with HDFC Bank

Monetary Authority of Singapore (MAS) ratified the merger of HDFC Investments with HDFC Bank.

Griha Pte, a wholly-owned subsidiary of HDFC Investments and a foreign step-down subsidiary of HDFC Ltd, got assent for the merger with HDFC Bank as a part of composite scheme of amalgamation. 

The proposed merger is contingent upon receiving final SEBI approvals.

Once the agreement is in place, existing HDFC shareholders will own 41% of the bank.

Every HDFC shareholder will receive 42 shares of HDFC Bank for every 25 shares.

MAS:

The Monetary Authority of Singapore (MAS) is Singapore’s central bank and integrated financial regulator. MAS also works with the financial industry to develop Singapore as a dynamic international financial centre.

Learn more about The Monetary Authority (MAS) HERE