HDFC Bank and HDFC Ltd announced that they have secured board approval for an amalgamation into the bank.

18 April 2022

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HOUSING DEVELOPMENT FINANCE COOPERATION LTD (HDFC)


  • HDFC Bank and HDFC Ltd announced that they have secured board approval for an amalgamation into the bank.


  • Shareholders of HDFC Ltd will receive 42 shares of HDFC Bank in lieu of 25 shares of HDFC Ltd.


  • We believe it will benefit in building a long-duration mortgage book – another lever for secured growth.


  • A long-duration book is a key positive outcome from this deal. It brings stability to the loan book and also significantly reduces the pressure during periods of economic slowdown.


  • The near-term outlook would be to manage the liability transition.


  • However, the medium-term outlook post this acquisition is likely to be favorable.


Note: The above is a brief note on the company, based on the inputs of KIE research report dated 4th April 2022, which is available on our website at: https://www.kotaksecurities.com/ksweb/ResearchCall/Fundamental. Disclaimer: http://bit.ly/2n5AxIE

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