India's HDFC Bank completes $40 billion takeover of the country's largest mortgage lender. Here’s what it means

announced in April last year

The merger was carried out efficiently due to the "common culture" that both companies have, said Nilesh Shah, managing director at Kotak Mahindra Asset Management. The new entity now holds a market cap of approximately $172 billion, Rajan said, adding it will become India's second most valued company by market cap after"These two powerhouses coming together should make a material impact in growth and expanding the client base in the days to come," Shah told CNBC.

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