AU Small Finance Bank has informed that bank (‘AU SFB’) has received a copy of letter of the Reserve Bank of India (‘RBI’) dated January 3, 2025 addressed to HDFC Bank that it has accorded its approval to the HDFC Bank (which includes its group entities viz HDFC Mutual Fund, HDFC Life Insurance Co, HDFC Pension Management Co, HDFC ERGO General Insurance Co and HDFC Securities) to acquire ‘aggregate holding’ of up to 9.50% of the paid-up share capital or voting rights in the AU SFB within one year from the date of RBI approval letter, failing which RBI approval shall stand cancelled. The aforesaid approval granted by RBI is subject to the compliance with the relevant provisions of the Banking Regulation Act, 1949, RBI’s Master Direction and Guidelines on Acquisition and Holding of Shares or Voting Rights in Banking Companies dated January 16, 2023 (as amended from time to time), provisions of the Foreign Exchange Management Act, 1999, regulations issued by Securities and Exchange Board of India, and any other statutes, regulations and guidelines, as applicable.
The above information is a part of company’s filings submitted to BSE.
