General Announcement::Receipt of RBI approval for investment in ICICI Bank Ltd and Kotak Mahindra Bank Ltd

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
07-May-2026 01:40:25
Status
New
Announcement Sub Title
Receipt of RBI approval for investment in ICICI Bank Ltd and Kotak Mahindra Bank Ltd
Announcement Reference
SG260507OTHREATV
Submitted By (Co./ Ind. Name)
HDFC Bank Limited
Designation
Vice President
Effective Date and Time of the event
06/05/2026 17:00:00
Description (Please provide a detailed description of the event in the box below)
We wish to inform you that the RBI vide its letters dated May 6, 2026, has given its approval to the Bank (being promoter / sponsor of its group entities viz. HDFC Mutual Fund, HDFC Life Insurance Company Limited, HDFC ERGO General Insurance Company Limited, HDFC Pension Fund Management Limited and HDFC Securities Limited) to acquire aggregate holding of up to 9.95% of the paid-up share capital or voting rights in ICICI and Kotak.

We further wish to inform you that the said approval is valid for a period of one year from the date of RBI s letter, i.e., till May 5, 2027. Further the Bank needs to ensure that the aggregate holding in ICICI and Kotak does not exceed 9.95% of the paid-up share capital or voting rights of ICICI and Kotak, at all times.

Kindly note that as per the Reserve Bank of India (Commercial Banks Acquisition and Holding of Shares or Voting Rights) Directions, 2025 ( RBI Directions ), aggregate holding includes shareholding by the Bank, body corporate under the same management/ control, mutual funds, trustees, promoter group entities, etc. In view of the same, whilst the Bank does not intend to invest in ICICI and Kotak, since the aggregate holding of Bank group entities is likely to exceed the prescribed limit of 5%, an application seeking approval of RBI for increase in investment limits was made. Further, since the RBI Directions are applicable to the Bank, the Bank had made the applications to RBI on behalf of the group entities, on January 23, 2026.

Please also note that the above investments by HDFC Bank group entities are in the normal course of business of the respective group entities.

This is for your information and appropriate dissemination.

Attachments

SGX06052026.pdf
Total size =522K