General Announcement::In-principle approval from SEBI for change in control of HDFC AMC, a portfolio manager

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
08-Aug-2022 13:14:40
Status
New
Announcement Sub Title
In-principle approval from SEBI for change in control of HDFC AMC, a portfolio manager
Announcement Reference
SG220808OTHR0UVA
Submitted By (Co./ Ind. Name)
Dhanjit Thaivalappil
Designation
Deputy Vice President
Description (Please provide a detailed description of the event in the box below)
This is in connection with our letter dated April 4, 2022, informing about the decision taken by the Board of Directors of HDFC Bank approving the proposed Scheme under Sections 230 to 232 of the Companies Act, 2013, the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 and other rules and regulations framed thereunder, subject to receipt of various statutory and regulatory approvals.
We also refer to our earlier letters, wherein we had informed you about receipt of no-objection/ approval letters including from stock exchanges and Reserve Bank of India.
In this connection, we wish to inform you that, we have been informed that on August 05, 2022, SEBI has granted its in-principle approval by its letter to HDFC AMC for change in control of HDFC AMC, (a subsidiary of HDFC Limited), which is registered as a portfolio manager with SEBI, subject to the approval of the National Company Law Tribunal ( NCLT ) under Sections 230-232 of the Companies Act and compliance with all provisions of SEBI (Portfolio Managers) Regulations, 2020 as amended from time to time, guidelines, circulars and other directives/provisions as may be applicable in this regard.
The Scheme remains subject to various statutory and regulatory approvals inter alia including approvals from the Competition Commission of India, the NCLT and the respective shareholders and creditors of the companies involved in the Scheme as may be required.
We request you to bring the above to the notice of all concerned.

Attachments

NYSEApprovalHDFCAMC.pdf
Total size =149K