HDFC approves scheme of amalgamation of subsidiaries, and HDFC Bank##HDFC approves scheme of amalgamation

Housing Development Finance Corporation (HDFC) at its meeting held on April 4, 2022, approved a composite scheme of amalgamation for the amalgamation of: (i) HDFC Investments Limited and HDFC Holdings Limited, wholly-owned subsidiaries of the Corporation, with and into the Corporation and (ii) the Corporation with and into HDFC Bank, and their respective shareholders and creditors.

The Scheme is subject to the receipt of requisite approvals from the Reserve Bank of India, Securities and Exchange Board of India, the Competition Commission of India, the National Housing Bank, the Insurance and Regulatory and Development Authority, the Pension Fund Regulatory and Development Authority, the National Company Law Tribunal, BSE Limited and the National Stock Exchange of India Limited and other statutory and regulatory authorities, and the respective shareholders and creditors.