After HDFC Life, Abrdn has quickly exited out of HDFC AMC too. After continuously reducing stake over the years, Abrdn had 10.2% balance stake left in HDFC AMC It has now sold this through open market transactions and realised Rs 4,079 cr The per share realised price is Rs 1,873 which is similar to the … Read more
HDFC to comply with the RBI requirements for merger with HDFC Bank has divested out of the education subsidiary, HDFC Credila Financial Services. It is selling approx 90% of Credila to a private equity consortium comprising Barings and ChrysCapital Stake is being sold for a consideration of Rs 9,060 cr valuing the business at about … Read more
HDFC Bank Ltd, India’s largest private lender, intends to prioritize home loans as a central part of its growth strategy after the completion of its merger with HDFC Ltd, according to two senior officials at the group. The officials told Reuters news agency that the pace of growth in home loans will broadly mirror growth … Read more
The government has declared the IT resources of ICICI Bank, HDFC Bank and UPI managing entity NPCI as ‘critical information infrastructure’, implying any harm to them can have an impact on national security and any unauthorised person accessing these resources may be jailed for up to 10 years, according to an official notification. The Ministry … Read more
After years’ of speculation, HDFC group today finally announced reverse merge of HDFC Limited (HL – the mortgage arm) into HDFC Bank (HB). Listed below are some key factual points for your perusal. Shareholders of HL will receive 42 shares of HB (FV Re. 1/- each) for every 25 shares of HL (FV Rs. 2/-each). … Read more
In one of it’s kind of arrangements (especially for HDFC Limited), HDFC has tied up with Indian Post Payments Bank (IPPB) for home loan distribution. Key points to note – IPPB has about 4.7 crore customers. HDFC’s idea here seems to get aggressive on affordable housing. HDFC said, “The partnership aims to facilitate HDFC Ltd.’s … Read more
2017 – “payment wallets like Paytm have no future” – Aditya Puri 2021 – HDFC and Paytm tie-up to leverage on each other’s strengths. Times change and so do the business compulsions ! It’s a very interesting arrangement and has the potential to lay roadmap for similar other tie-ups in future. Why is it so? … Read more
IPO-bound digital payments firm Paytm and India’s largest private sector bank, HDFC Bank, announced a strategic partnership to build comprehensive solutions across payment gateway, point of sale machines and credit products including Paytm Postpaid which is Buy Now Pay Later (BNPL) solution, Eazy EMI and Flexi Pay. The partnership will aim to empower new … Read more
HDB Financial Services Ltd (HDBFSL’s), subsidiary of HDFC Bank, posted a sharp drop (43.9 per cent) in net profit at Rs 130.6 crore in the first quarter ended June 2021 (Q1FY22) from Rs 232.7 crore a year ago. The second wave of Covid-19 hit the business volumes and collections in Q1FY22. HDBFSL’s net income in … Read more