HDFC and HDFC Bank merger proposal gets nod from stock exchanges

The merger, which was announced in early April, requires a series of approvals from financial sector regulators including RBI and CCI before it goes to NCLT and shareholders

The proposal of merger of HDFC with its banking subsidiary HDFC Bank, the biggest transaction in India's corporate history, has got approval from stock exchanges.

Both HDFC and HDFC Bank have got no-objection from both stock exchanges.

HDFC Bank has received observation letter with 'no adverse observations' from BSE Limited and observation letter with 'no objection' from the National Stock Exchange of India Limited, both dated July 2, 2022, HDFC Bank said in a filing.

"The scheme remains subject to various statutory and regulatory approvals inter alia including approvals from the Reserve Bank of India, Competition Commission of India, the