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By EquityPandit

HDFC has approved merger of 5 subsidiaries into itself

July 28, 2016

HDFC Ltd, a mortgage lender has provided its approval, subject to various regulatory approvals, to the merger of five subsidiaries with itself.

The company has said in a statement that HDFC has granted in-principle approval for the amalgamation of Grandeur Properties, Haddock Properties, Winchester Properties, Pentagram Properties and Windermere Properties into itself.

It has further said that all these companies are wholly owned subsidiaries of the HDFC and the aforesaid amalgamation is subject to various regulatory approvals as applicable.

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