HDFC twins may merge by April next year, says Chairman Deepak Parekh

Parekh said the voting process of shareholders on the proposed merger has received "fair amount of votes" from shareholders already

The merger with HDFC Bank may be completed by April next year, HDFC Chairman Deepak Parekh said on Wednesday.

“The bank will go back to NCLT (National Company Law Tribunal) for approval after getting the shareholders’ approval. The proposed merger of HDFC and HDFC Bank is expected to fructify by April 2023,” he said at an event in New Delhi.

Parekh said the voting process of shareholders on the proposed merger had received “fair amount of votes” from shareholders already. The merger would require 75 per cent shareholders’ approval.

Last month, NCLT had given its nod for holding a shareholders’