RBI approves merger of CBoP with HDFC Bank

RBI approves merger of CBoP with HDFC Bank

HDFC To Raise Rs 40 Bln Debt Fund In Next 18 Mths

HDFC has decided to lift Rs 40 billion debts in order to fund its stake purchase in HDFC Bank.

The debt will be raised within the next 18 months.

HDFC All Set To Invest Rs 4,000 Cr To Maintain Stake In HDFC Bank

After its planned merger with the Centurion Bank of Punjab (CBoP), Housing Development Finance Corporation

Lower valuations for Centurion Bank of Punjab shareholders

HDFC Bank, Centurion Bank of Punjab Merger dealBanking sector Major HDFC bank is in talks with Centurion Bank of Punjab.  The news of the possible merger was first reported by Economic Times on 13, Feb, 2008.  If the deal is finalised, HDFC bank will become the third biggest bank with a wide network all across the country.

Centurion Bank of Punjab informed the stock exchange that a meeting of the board of directors of the bank will be held on February 23, 2008 to consider a possible merger with HDFC Bank Ltd.

HDFC Sells 7.15% Stake Of Its Arm For Rs 200 Cr

HDFCHousing Development Finance Corporation (HDFC) has sold 8,03,87,686 equity shares of Rs 10/- each of HDFC Standard Life Insurance Company (SLIC) to Standard Life (Mauritius Holdings) Ltd, representing 7.15% of the total issued and paid-up equity for Rs. 200 crore at a pre agreed price.

With this, Standard Life (Mauritius Holdings) will go up to 26%, the maximum permissible by foreign investors under Indian law.

On the other hand, after the current sale, HDFC’s stake will come down from 81% to 74 %.

HDFC May Slash Home Loan Rates Next Week

HDFC Bank to Slash home loan rates