Sat Jun 21 16:46:54 UTC 2025: Okay, here’s a summary of the text and a news article based on it:
**Summary:**
Former HDFC Ltd. chairman Deepak Parekh revealed that ICICI Bank had previously offered to acquire HDFC Ltd., but the offer was turned down.
**News Article:**
**ICICI Bank Once Offered to Acquire HDFC, Says Former Chairman Deepak Parekh**
**Mumbai, India** – Veteran banker Deepak Parekh, former chairman of HDFC Ltd., has revealed that ICICI Bank made an offer to acquire the mortgage lender prior to its eventual merger with HDFC Bank. Parekh disclosed this information publicly, stating that HDFC Ltd. ultimately declined the offer.
The revelation sheds light on a previously unknown chapter in the history of India’s two largest private sector banks. While the specific details of the offer, including the timing and rationale, remain undisclosed, Parekh’s statement confirms ICICI Bank’s past interest in expanding its footprint in the housing finance sector.
HDFC Ltd. recently merged with HDFC Bank, creating one of the largest financial institutions in India. The reason for rejecting ICICI Bank’s offer remains unclear, but it ultimately paved the way for the successful merger with HDFC Bank, solidifying its position as a major player in the banking industry. Neither ICICI Bank nor HDFC Bank have issued a formal statement responding to Parekh’s remarks.
First Piper 