General Announcement::Approval from RBI to HDFC AMC to acquire shares or voting rights in banking companies

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
22-Sep-2023 13:32:30
Status
New
Announcement Sub Title
Approval from RBI to HDFC AMC to acquire shares or voting rights in banking companies
Announcement Reference
SG230922OTHR3B8L
Submitted By (Co./ Ind. Name)
Dhanjit Thaivalappil
Designation
Deputy Vice President
Description (Please provide a detailed description of the event in the box below)
We wish to inform you that HDFC Asset Management Company Limited ( HDFC AMC ), a subsidiary of HDFC Bank Limited, is in receipt of the approvals from the Reserve Bank of India ( RBI ), via different letters dated September 20, 2023, on the captioned subject which enables HDFC AMC to acquire aggregate holding of up to 9.5% of the paid-up share capital or voting rights in each of the banks viz. DCB Bank Limited, Equitas Small Finance Bank Limited, The Federal Bank Limited, Karur Vysya Bank Ltd. and City Union Bank Limited.

The said RBI approval is given pursuant to the application of HDFC AMC in accordance with the Master Direction Reserve Bank of India (Acquisition and Holding of Shares or Voting Rights in Banking Companies) Directions, 2023 dated January 16, 2023. Accordingly, the term aggregate holding shall be construed as per the said directions.

You are requested to kindly take note of the above.

Attachments

SGX_HDFCAMC22sep2023.pdf
Total size =504K