HDFC Bank Ltd.

HDFC Bank has proposed to participate in an Initial Public Offering (IPO) of National Securities Depository (NSDL), by way of an offer for sale of up to 2% equity stake held by the Bank in NSDL (being up to 40,00,000 equity shares), as stated in the Draft Red Herring Prospectus dated July 7, 2023, filed with Securities and Exchange Board of India on July 8, 2023. This is in addition to the Bank’s past divestment of 1% stake in NSDL via definitive agreements dated December 2, 2022, which was within the materiality threshold as prescribed under Regulation 30 read with Schedule III of SEBI Listing Regulations.

Post the divestment of First Tranche, the Bank holds 8.95% stake in NSDL. The divestment in the Second Tranche is for up to 2% equity stake.

HDFC Bank is one of India’s premier banks providing a wide range of financial products and services using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking.