Parekh famously left his Chase Manhattan Bank job in 1978, where he was earning twice the salary he would at HDFC. For Parekh, now 78, who joined HDFC as a 33-year-old and built it as India s largest private sector housing finance company, it is the end of a journey. Here is a look at his journey.
Investor interest in HDFC Bank and HDFC has increased due to their nearing merger, with delivery volumes on both exchanges seeing an uptick this month. The merger is set to be completed next month and is expected to offer great value to investors. Share deliveries have risen by over 75% as a percentage of total volume, with delivery volumes in HDFC seeing an increase of 27% compared to last month.
The $40 billion merger of HDFC Bank and HDFC, announced last April, is expected to conclude by July, HDFC Bank's Chief Financial Officer Srinivasan Vaidyanathan told analysts at a conference call on Saturday.