The National Company Law Tribunal (NCLT) has approved the merger of HDFC into HDFC Bank in what will be the biggest-ever amalgamation in Indian corporate history. The merger has already been approved by exchanges. The merged entity will have a combined asset base of around Rs 18 lakh crore.

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In an interview with CNBC-TV18, Keki Mistry, Vice Chairman and CEO of HDFC said that after the NCLT announcement, he expects the merger to be completed by late June or early July, which is in line with the timeline previously announced by the companies.

He said, “Some of the approvals came faster than we expected. So, we are absolutely on track. And my sense is that sometime towards the latter part of June or probably July is the time when the merger will get completed in all respects.”

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According to Mistry, the integration process has been going on for a long time, with people from both entities meeting and running the process. He also said that some of the approvals for the merger have come faster than expected, which is a positive sign for the completion of the merger.

The merger between HDFC and HDFC Bank is set to create one of the largest financial services companies in India. The merger will combine the strength and expertise of both entities, creating a powerful force in the banking and financial industry and is expected to bring about significant benefits for customers, shareholders, and the overall Indian economy.

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The integration process between HDFC and HDFC Bank is a complex undertaking that involves various departments and teams working together. Mistry's statement that people from both entities are meeting and running the process indicates that there is a collaborative effort to ensure a successful merger.

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