paragraph

<a href="https://mintgenie.livemint.com/stocks/hdfc-bank-S0003020" target="_blank">HDFC Bank</a> is planning to raise about ₹2.7 lakh crore in total to meet capital requirements and other prerequisites stipulated by the regulator for its <a href="https://mintgenie.livemint.com/photos/markets/hdfc-hdfc-bank-merger-key-highlights-151649048834846-img2" target="_blank">merger</a> with parent Housing Development Finance Corporation (HDFC), <a href="https://www.livemint.com/companies/news/hdfc-bank-to-raise-2-7-tn-for-merger-11659294046230.html" target="_blank">Mint</a> reported quoting two people directly familiar with the bank’s plan.

The report said that HDFC Bank is to raise at least ₹2.2 lakh crore from public deposits and corporate bonds, and an additional ₹50,000 crore from similar papers.

“ ₹2.2-2.3 trillion of HDFC Ltd’s borrowings are from various banks, which needs to be paid off on day one of the mergers. This will come from deposits and bonds. Apart from that, at least ₹50,000 crore would also be raised from deposits, which will go towards meeting statutory liquidity ratio (SLR) and capital adequacy requirements (CAR)," Mint reported quoting the first person saying so.

The RBI has given its nod for the proposed amalgamation of HDFC and HDFC Bank while the Securities and Exchange Board of India (Sebi), too, has given its in-principle approval for the merger of various HDFC Group entities as a part of the mega-merger.

The proposed merger of HDFC with HDFC Bank has raised SLR requirements as the balance sheet size of the merged entity will be much bigger than what the standalone bank now has, the Mint report said.

After the completion of the merger, HDFC Ltd will acquire a 41% stake in HDFC Bank, and all subsidiaries of the housing financier will be owned by the latter. It will take about 12-18 months for the ongoing merger process to be completed, the Mint report highlighted.

HDFC Bank plans to raise ₹2.7 lakh crore for its merger with parent HDFC

HDFC Bank needs funds to meet capital requirements and other pre-requisites stipulated by the regulator for its merger with HDFC.

<ul><li>HDFC Bank needs funds to meet capital requirements and other pre-requisites stipulated by the regulator for its merger with HDFC.</li></ul>

Hedge Funds Slash Bearish Yen Bets as Summer Revival Continues

Sony Dives Most in Months After Gaming Slump Spurs Outlook Cut

Bitcoin Slips After Best Month of 2022 as Traders Weigh Recovery

Before Market Opens: From US markets to FIIs; 9 things to know at 9 am on August 1, 2022

Carry Traders Are Using Weak Euro to Win Big in Emerging Markets

Asia shares off to sluggish start, China data soft

Oil prices slip ahead of OPEC+ meeting

Dollar at near 3-week low on bets for less aggressive Fed

Earnings, macro data, RBI interest rate decision to drive markets this week, analysts say 

From Nithin Kamath of Zerodha to Uday Kotak: Market experts mourn Rakesh Jhunjhunwala's demise

The 62-year-old Rakesh Jhunjhunwala passed away on Sunday morning in Mumbai.

How does an investor measure a mutual fund’s volatility? Things you need to know

Before you invest in a mutual fund, you should evaluate its performance based on its returns as well as on the consistency of these returns — something that can be measured by standard deviation. We share more details on this here.

Zero cost term plans: Getting insurance premium back in case of discontinuance

Under these term insurance plans; policyholder can discontinue paying premiums at a stage of life where they feel they don’t need an insurance any more

Rakesh Jhunjhunwala: What made the man so special

<ul><li>Rakesh Jhunjhunwala has left a legacy behind. A perpetual believer of India story, he was always bullish about the country because of the immense opportunities. He had also been vocal about the reforms initiated by the government which he believed will not only facilitate India's growth at present, but will open several new opportunities in future also.</li></ul>

Rakesh Jhunjhunwala, India's Warren Buffet, dies at 62

A chartered accountant by profession from the desert state of Rajasthan, Jhunjhunwala started dabbling in stocks while in college and went on to manage a stock trading firm, RARE Enterprises.