HDFC received clearance from Stock Exchange in proposed merger

On April 4, 2022, the Board of Directors of HDFC Bank approved a composite scheme of amalgamation.

HDFC received clearance from Stock Exchange in proposed merger
HDFC received clearance from Stock Exchange in proposed merger

New Delhi: The HDFC Bank on Sunday received a Receipt of Observation Letter with ‘no adverse observations’ from BSE Limited and ‘no objection’ from the National Stock Exchange of India Limited in relation to the proposed composite scheme of amalgamation for the amalgamation of HDFC Investments Limited and HDFC Holdings Limited, wholly-owned subsidiaries of Housing Development Finance Corporation Limited, with and into HDFC Limited and HDFC Limited with and into HDFC Bank Limited ("HDFC Bank", the Bank mentioned in its regulatory filing. 

On April 4, 2022, the Board of Directors of HDFC Bank approved a composite scheme of amalgamation. Upon the Scheme becoming effective, the subsidiaries/associates of HDFC Limited will become subsidiaries/associates of HDFC Bank. 

The copies of said letters are enclosed herewith. The Scheme remains subject to various statutory and regulatory approvals inter alia including approvals from the Reserve Bank of India, Competition Commission of India, the National Company Law Tribunal,, and the respective shareholders and creditors of the companies involved in the Scheme, as may be required.