CCI approves merging HDFC, HDFC Bank, HDFC Investments and HDFC Holdings

17 Aug 2022 CW Team

The Competition Commission of India (CCI) has approved the proposed amalgamation of HDFC, a housing finance company registered with the National Housing Bank; HDFC Bank, registered with the Reserve Bank of India (RBI) as a banking company; and HDFC Investments, and HDFC Holdings, both registered with the RBI as a Systemically Important Non-Deposit Taking Non-Banking Financial Companies and engaged in the business of making investments in equity shares, preference shares, venture funds, mutual funds and other securities.

The proposed combination envisages a two-step amalgamation process:

Step one involves the amalgamation of HDFC Investments and HDFC Holdings into and with HDFC, such that HDFC will be the surviving entity. In step two will be the amalgamation of the amalgamated HDFC into HDFC Bank, such that HDFC Bank will be the surviving entity post this step.

Also read:
HDFC Bank leases office space at Mindspace REIT's park for 10 years
Signature Global plans Rs 550 cr investment in housing project

Infrastructure Energy

19 Sep 2025

J&K CM Rules Out Power Privatisation, Focuses on Sector Reform

Jammu and Kashmir Chief Minister Omar Abdullah has dismissed speculation regarding privatisation of electricity in the Union Territory, emphasising that his priority is to strengthen and reform the power sector.“We are not discussing privatisation. By reducing losses, improving billing efficiency, and enhancing revenue, there will be no need for it. My vision is to strengthen and reform the power sector in J&K,” Abdullah stated.He addressed the gathering at the 58th Engineers’ Day at SKICC on Monday evening, an event honouring Bharat Ratna Sir M Visvesvaraya for his pioneering contri..

Mumbai’s Sassoon Dock to Get Tech-Driven Modernisation with Finland

The Maharashtra government, in collaboration with Finland, will modernise Mumbai’s historic Sassoon Dock using advanced technology, state minister Nitesh Rane announced on Wednesday.Rane met a delegation of Finnish officials and representatives of Finnish companies at the dock to discuss strategic plans for upgrading the facility in south Mumbai, according to an official statement.Built in the 19th century, Sassoon Dock is one of Mumbai’s oldest and busiest fishing harbours. Operations currently exceed its original capacity, raising concerns over hygiene, odour, fish handling standards, an..

Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm o..