MAS Ratified Merger HDFC Investments with HDFC Bank

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

 

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