HDFC to merge with HDFC Bank to create third most valuable company in the country

HDFC Limited will merge with HDFC Bank, creating a banking behemoth. The merger is set to make the company the third most valuable in the country. HDFC will acquire a 41 percent stake in HDFC Bank through the transformational merger. HDFC Limited Chairman Deepak Parekh has described it as a merger of equals. He said mergers will enhance diversity of assets of the combined entity. Mr. Parekh said, this merger will help expand the customer base and build a product portfolio in the housing loan cat...