New Delhi: The merger between Housing Development Finance Corporation (HDFC) and HDFC Bank will be effective on July 1, CNBC-TV18 reported on Tuesday, citing HDFC Chairman Deepak Parekh.


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It will be the last board meeting of HDFC, and its shares will go off the market, effective July 13, the report quotes Parekh as saying. (Also Read: 10 Top Shoe Brands In India 2023 For Men And Women)


Both companies will have separate board meetings on June 30. (Also Read: 7 Homemakers Who Never Dreamed About Success, Just Worked For It, Build 1,600 Crore Empire From Rs 80, Employee Strength 42,000 Now)


HDFC had, in April last year, announced a $40 billion deal to merge with HDFC Bank, the country's biggest ever, which will create a financial services titan to better tap the rising demand for credit.