General Announcement::Outcome of the Board meeting of HDFC Bank Limited held on June 30, 2023

Issuer & Securities

Issuer/ Manager
HDFC BANK LIMITED
Securities
HDFCBANK INR23B 8.1%N250322 - XS1794215696 - 8NPB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
01-Jul-2023 01:14:42
Status
New
Announcement Sub Title
Outcome of the Board meeting of HDFC Bank Limited held on June 30, 2023
Announcement Reference
SG230701OTHRDRJB
Submitted By (Co./ Ind. Name)
Dhanjit Thaivalappil
Designation
Deputy Vice President
Description (Please provide a detailed description of the event in the box below)
Pursuant to the applicable provisions of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Bank, at its meeting held today, has decided as follows:

1. The 29th Annual General Meeting ('AGM') of the Bank will be held on Friday, August 11, 2023 at 2:30 p.m. Indian Standard Time (IST) through video-conferencing (VC) / other audio-visual means (OAVM), in accordance with the General Circular Nos. 20/2020 dated May 5, 2020, 02/2022 dated May 5, 2022, 10/2022 dated December 28, 2022 issued by the Ministry of Corporate Affairs (MCA) and in accordance with circulars dated May 13, 2022 and January 5, 2023 issued by the Securities and Exchange Board of India (SEBI) providing relaxations to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Vide our intimation dated April 15, 2023, we had informed that the record date for determining the eligibility of members entitled to receive dividend on equity shares is Tuesday, May 16, 2023 ( Dividend Record Date ). In continuation of the said intimation dated April 15, 2023, please note that dividend, if approved at the AGM, shall be paid on or after Monday, August 14, 2023, in electronic form or through dispatch of physical dividend warrants. Please also note that the composite scheme of amalgamation for the amalgamation of: (i) HDFC Investments Limited ( HIL ) and HDFC Holdings Limited ( HHL ), wholly-owned subsidiaries of Housing Development Finance Corporation Limited ( HDFC Limited ), with and into HDFC Limited and (ii) HDFC Limited with and into the Bank, shall become effective on July 1, 2023 ( Effective Date ). The shares held by HDFC Limited, HIL and HHL in HDFC Bank Limited shall be cancelled in accordance with the Scheme and therefore, no dividend shall be treated or deemed to have been declared for the said shares and the dividend shall be deemed declared only for the balance shares to the other shareholders holding such shares as on the Dividend Record Date, subject to the approval of shareholders.

2. To take note of amendment of Clause V of the Memorandum of Association of the Bank in terms of the Scheme, considering the clubbing of Authorised Share Capital of HDFC Limited and the Bank, that shall become effective on the Effective Date, as follows:

Existing clause Amended clause
V. The Capital of the Company is Rs. 650,00,00,000/- (Rupees Six Hundred and Fifty Crore Only) divided into 650,00,00,000 (Six Hundred and Fifty Crore Only) Equity Shares of Re.1/- each with a power to increase or reduce the share capital. V. The Capital of the Company is Rs. 1190,61,00,000/- (Rupees One Thousand One Hundred Ninety Crores and Sixty One Lacs Only) divided into 1190,61,00,000 (One Thousand One Hundred Ninety Crores and Sixty One Lacs) Equity Shares of Re. 1/- (Rupee One Only) each with a power to increase or reduce the share capital.

Please note that the Composite Scheme of Amalgamation ( the Scheme ) has been approved by the shareholders of HDFC Limited and the Bank at their respective NCLT convened respective meetings held on November 25, 2022. The approval of the Scheme by the equity shareholders of the Bank under Sections 230 to 232 of the Companies Act, 2013 shall be deemed to have been an approval under Section 13, Section 61 and Section 64 or any other applicable provisions under the Companies Act, 2013 and no further resolution(s) would be required to be separately passed in this regard.

Attachments

SGXOutcomeofBM30jun2023.pdf
Total size =576K