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If its plans fructify, NSDL will be second such entity to be listed after CDSL, which is now trading in NSE
Mortgage-lending pioneer Deepak Parekh, 78, will ride into professional sunset with the satisfaction of having built a powerhouse that would be the fourth biggest bank in the world when Housing Development Finance Corp (HDFC) merges with the lender it spawned three decades ago.
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.
“It is my time to hang my boots with both anticipation and hope for the future," Parekh wrote to HDFC shareholders for the last time as chairman. "While this will be my last communication to shareholders of HDFC, rest assured we now stride tall into a very exciting future of growth and prosperity."