In the previous month, HDFC had also announced the approval from its board for the merger of its wholly-owned subsidiaries, HDFC Investments and HDFC Holdings, with HDFC Bank. HDFC will acquire 41 per cent stake in HDFC Bank through the merger. “This is a merger of equals. We believe that the housing finance business is poised to grow in leaps and bounds due to the implementation of RERA, infrastructure status to the housing sector, government initiatives like affordable housing for all, amongst others,” Deepak Parekh, chairman of HDFC has said of the merger.