HDFC Ltd has announced that the Securities and Exchange Board of India (SEBI) has approved a proposal for the alteration of control of HDFC Capital Advisors Limited (HCAL).
In a regulatory filing, HDFC Ltd has revealed that SEBI has granted its approval for the proposed modification of control of HCAL, a subsidiary of HDFC Limited and a co-investment portfolio manager, through a letter dated April 10, 2023.
The approval, however, is subject to several conditions stated in the letter sent by SEBI to HCAL.
According to the proposed composite scheme of amalgamation, HDFC Limited has declared that its wholly-owned subsidiaries, HDFC Investments Limited and HDFC Holdings Limited, will be consolidated with HDFC Limited initially and eventually merged with HDFC Bank.
The approval granted by SEBI for the modification of control of HCAL is a significant step towards the merger of HDFC with HDFC Bank. The consolidation is anticipated to be completed by the third quarter of the next fiscal year.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.