The merger of housing finance major HDFC with the country's largest private lender HDFC Bank will be effective from July 1, HDFC chairman Deepak Parekh said on Tuesday. The boards of HDFC and the private bank will meet on June 30 post to clear and approve the merger, Parekh told reporters in Mumbai. The merger of the corporation with HDFC Bank will be effective July 1, Parekh said.
French information technology (IT) and consulting services major Capgemini on Monday said it would acquire Mumbai-headquartered WNS for $3.3 billion in cash. This could be one of the largest merger & acquisition deals in the IT services and business process management sector.
State Bank of India (SBI), the largest lender in the country, has launched a share sale to institutional investors to raise upto Rs 25,000 crore, the biggest qualified institutional placement (QIP) so far by an Indian firm, and has set a floor price of Rs 811.05, which is at a 2.5 per cent discount on Wednesday's closing price.
JSW Paints, part of $23 billion JSW Group, on Friday said it will acquire majority controlling stake in Akzo Nobel India Ltd (ANIL), the maker of Dulux paints, for Rs 8,986 crore. It will acquire 74.76 per cent stake from its Dutch promoters/holding entities -- namely Imperial Chemical Industries and Akzo Nobel Coatings International BV -- for a consideration of Rs 8,986 crore, according to a statement from the JSW Group firm.
With the merger between HDFC Bank and HDFC Ltd complete, analysts said the next key monitorable for the Street would be successful resolution of merger-related hiccups, including employee-related churn and roll out of complete banking services across branches. At the bourses, they expect the stock to perform in-line with the benchmark indices in the near-term. "There's usually an initial period of consolidation after a merger as the entities work towards integration.
The National Company Law Tribunal (NCLT) on Thursday allowed the merger of Zee Entertainment Enterprises Ltd and Culver Max Entertainment (earlier known as Sony Pictures Networks India). This order by the Mumbai bench, headed by H V Subba Rao and Madhu Sinha, will pave the way for the creation of a $10-billion media company, the biggest in the country. The tribunal also dismissed all objections regarding the merger.
So, the next time someone tempts you with a slightly higher FD rate from a lesser-known bank, point them to hybrid funds that can deliver extra returns without the administrative and emotional rollercoaster.
'We realised that partnering with a strong local player like the JSW Group would create far greater value than going it alone.'
The Boeing 787-8 aircraft -- VT-ANB -- was 11.5 years old and had flown for more than 41,000 hours, according to aviation analytics firm Cirium.
Quick commerce company Zepto has completed a reverse flip from Singapore to India to become an Indian parent's entity ahead of its proposed IPO. Its co-founder and CEO Aadit Palicha, in a post on LinkedIn, described it as a historic milestone for the Indian startup ecosystem and an inflection point that represents long-term confidence in the liquidity and depth of Indian capital markets.
The Competition Commission of India on Tuesday approved Singapore's Temasek Holdings proposed acquisition of a minority stake in Haldiram Snacks Food. Temasek Holdings through its arm Jongsong Investments Pte is acquiring a stake in the target company.
Your AMC shuts shop. Panic? Wait. What happens next isn't what most fear.
'About $8.5 billion in free cash, about $3 billion as annual debt refinancing, and $3 billion-4 billion in fresh borrowing. An additional $1.6 billion-1.8 billion will come from development profits in 2025-26.'
After the merger of regional rural banks (RRBs) under the "One State, One RRB" policy to improve their efficiency and minimise competition among public-sector banks (PSBs) that sponsor them, the government is planning to list at least five RRBs by the end of financial year 2026-27 (FY27). After the latest amalgamation that came into effect on May 1, there are 28 RRBs in 26 states and two Union Territories (UTs), with more than 22,000 branches covering 700 districts.
There have been more instances of a management team buying out the owners of a company after the pandemic. There are eight such transactions, called management buyouts (MBOs), in the five years ending 2024, according to data from tracker LSEG shared with Business Standard.
Having successfully executed the merger with parent HDFC, HDFC Bank's managing director and chief executive Sashidhar Jagdishan on Saturday said the country's largest lender aims to double every four years. In a letter to the over 4,000 employees from HDFC who joined the bank's rolls on Saturday, Jagdishan said the future is bright, and the work on realising the potential of the merger starts now. "The runway for financial services and mortgage, which are so underserved and under penetrated, is going to be very large. HDFC Bank - the combined entity - with a large and growing distribution and customer franchise, more than adequate capital, healthy asset quality and profitability, will be best positioned to capture growth.
'Many global investors have been overweight on dollar assets, so some diversification or hedging is naturally expected.'
The proposal to merge the Gujarat International Finance Tec-City (GIFT City) units of the National Stock Exchange (NSE) and BSE has reached an advanced stage, and both bourses could file an application before the National Company Law Tribunal as early as this month, according to a top regulatory official. Sources indicate that the merger proposal has received approval from their respective boards. Both the NSE and BSE are arch rivals when it comes to onshore trading.
Singapore Airlines on Tuesday said Vistara will be merged with Tata group-owned Air India. Tata group owns a 51 per cent stake in Vistara, and the remaining 49 per cent shareholding is with Singapore Airlines (SIA). As part of the transaction, SIA will also invest Rs 2,058.5 crore in Air India.
While a giant, it's a nimble-footed one, and is growing at a speed that even some of its private sector peers find enviable.
Between FY18 and FY24, it doubled its balance sheet. Despite being a late entrant in some segments, it has been able to grab market share, observes Tamal Bandyopadhyay.
Vijay is counting on what was once proclaimed as his last filmi outing, Jana Nayagan, or 'People's Hero', to do the trick for him, when it releases on January 9, 2026, only months before the assembly poll, observes N Sathiya Moorthy.
The PGA Tour, DP World Tour and rival Saudi-backed LIV circuit announced an agreement in early June to merge and form a unified commercial entity. The LIV Golf series is bankrolled by the Saudi Arabia Public Investment Fund (PIV). Critics have accused it of being a vehicle for the country to improve its reputation as it faces criticism of its human rights record.
The Reserve Bank of India is likely to take a call on the relaxations sought by HDFC Bank in relation to the merger, as the date of merger draws closer, sources said. The HDFC twins, which announced their decision to merge in April last year, received National Company Law Tribunal's (NCLT's) approval recently - a key milestone to close the deal in due time. The management of both the entities had said that it will take 15-18 months for the merger.
L&T Infotech and Mindtree on Friday announced a mega-merger to create an efficient and scaled-up IT services provider, exceeding $3.5 billion in combined revenue, according to a statement. The name of the combined entity will be 'LTIMindtree', the statement said. In an all-share deal, L&T Infotech will offer 73 shares for every 100 shares of Mindtree.
Goa assembly speaker Ramesh Tawadkar on Friday dismissed the disqualification petition filed by the Congress against eight of its MLAs who defected to the ruling Bharatiya Janata Party in 2022.
Currently, the NAPCC has eight active missions across sectors like water, energy, and agriculture, aimed at addressing climate change.
In October 2024, Jindal Stainless challenged a Goods and Services Tax (GST) notice in the Delhi high court. It was about corporate guarantees issued to related parties by its former group company, Jindal Stainless (Hisar), before their merger in March 2023.
'However, this process will take some time. Depending on the approval timeline, it may span a few quarters.'
'If his health was good he would have become CM again after polls.' 'Those who are with Nitish Babu today will remain with him till the elections to use his name for votes and would definitely play games with him after the polls.'
Talks of a merger between HDFC Bank and parent HDFC Ltd had gained steam nearly eight years ago, when the Reserve Bank of India allowed banks to issue long-term bonds to fund infrastructure and affordable housing. At that time, key executives at both entities denied any such proposal. And today, the merger has been officially announced by the two players.
Singapore Airlines (SIA) is engaged in confidential talks with Tata Sons for merging Vistara with Air India, the flagship carrier of the Republic of Singapore informed the stock exchange in the Southeast Asian nation on Thursday in a first acknowledgement of a possible integration of the two airlines. "In line with its multi-hub strategy, SIA is currently in confidential discussions with the Tatas to explore a potential transaction in relation to the securities of Vistara and Air India. "The discussions seek to deepen the existing partnership between SIA and Tatas and may include a potential integration of Vistara and Air India," SIA said in a notification to the Singapore stock exchange. SIA owns 49 per cent stake in Vistara and is among the four airlines run by Tata Group.
In a mixed bag for HDFC Bank ahead of the parent HDFC's merger with itself, the Reserve Bank of India has declined to make exceptions on certain aspects, and has offered some leeway on others. The country's largest private sector lender, which is aiming to conclude the merger with the home finance major by July, had written to the central bank seeking certain forbearances after announcing the $40-billion merger in April last year. In an exchange filing this evening, HDFC Bank said it received a response from RBI on Thursday and also said that there are a few pending issues.
Nambala Keshav Rao alias Basavaraju, the powerful general secretary of Communist Party of India-Maoist killed in an encounter along with 26 others on Wednesday, had masterminded several major attacks on security forces in Chhattisgarh and his death is a big blow to the armed movement, said officials.
Reliance-Disney skips bidding
Haldiram has entered into an agreement with Temasek as part of which the Singapore-headquartered global investment firm will "acquire an equity stake from the existing shareholders" of India's largest packed snack and sweets company and restaurant operator, according to a statement issued on Sunday. It did not disclose details of the deal or the valuation at which Temasek acquired the equity stake, but this is the first official confirmation of the deal from Haldiram.
Air India has covered a lot of ground since privatisation and its global coverage will further increase in the years ahead, the airline's chief Campbell Wilson said on Wednesday. He also said the interior refit of the single-aisle fleet, serving domestic and short-haul international destinations, is underway, and will be completed by mid-2025.
The effect of the HDFC-HDFC?Bank merger will be for the bigger space of the Indian financial sector and not just limited to the banking sector. The large finance companies have practically no benefit of regulatory arbitrage. Earlier, such arbitrage between banks and NBFCs was normal. The logic of the merger is very clear - the cost of borrowing of banks is lower.
HDFC Bank expects to amalgamate its home loan major parent HDFC into itself by September next year, a top official said on Friday. Both HDFC and HDFC Bank held general meetings on Friday to seek shareholder approvals for what is billed as the largest merger in Indian corporate history at over $40 billion. At the time of announcing the merger on April 4 this year, the entities had said the merger will take 12-18 months.
Chairman Arun Dhumal said they are considering expanding IPL to a full home-and-away format with 94 matches from 2028 onwards.
'Growth for some companies has been hard to come by and this is a smart way to get there.'
