HDFC Asset Management Company has invested an amount upto Rs 6 crore in equity share capital of wholly owned subsidiary (WOS) namely HDFC AMC International (IFSC) and continues to hold 100% of the total paid up share capital of WOS. The objective of acquisition is to enable the WOS to meet the net worth requirements prescribed for Registered Fund Management Entity (Retail) under the International Financial Services Centres Authority (Fund Management) Regulations, 2022 and to meet the other expenses from time to time.
Earlier, the company had received approval from Board of Directors for the same.
HDFC Asset Management Company offers a large suite of savings and investment products across asset classes, which provide income and wealth creation opportunities to its customers.
