In conclusion, the $64 billion merger between HDFC and HDFC Bank, which created one of the most valuable banks in the world, has resulted in relatively minimal fees for financial advisers involved in the transaction. This highlights the challenging environment faced by investment bankers in India, characterized by intense competition, pricing pressure, and limited fee income. As the industry landscape evolves, investment banks will need to adapt their strategies and explore innovative approaches to remain profitable in the Indian market.