 "Full size")
The merger of India's largest housing finance company, the Housing Development Finance Corporation (HDFC), and the largest lender by market cap, HDFC Bank, will be effective from July 1. In a press conference on June 27, HDFC's chairman Deepak Parekh said that the board of these two companies will meet on June 30 to finalise the merger.
But HDFC's journey is a success story in its own right. Here's all you need to know about its foundation and journey so far
The shares of HDFC will delist on July 13, marking a major step in a journey that started over 45 years ago. Here is a brief on the foundation of HDFC and its journey so far.
Hasmukhbhai Parekh and his role
HDFC was founded in 1977 under the leadership of HT Parekh, also known as Hasmukhbhai. Born on March 10, 1911, Hasmukhbhai went on to study Banking and Finance at the London School of Economics.
After returning to India in 1936, Parekh began his career in finance with a stock broking firm Harkisandass Lukhmidass. He served the firm for over two decades.
