Board of HDFC AMC approves incorporation of subsidiary in Gift City

At meeting held on 14 December 2021

The Board of HDFC Asset Management Company at its meeting held on 14 December 2021 has approved incorporation of a wholly owned subsidiary of the Company in Gujarat International Finance Tec-City (Gift City), State Gujarat in the name and style of HDFC AMC IFSC or HDFC AMC International (IFSC) or such other name as may be approved by the Registrar of Companies.

The proposed wholly owned subsidiary will, inter-alia, undertake the business of acting as an Investment Manager to the scheme(s) to be launched under Alternative Investment Fund (AIFs) from time to time, international funds, provide other investment advisory services and offer separately managed accounts, subject to the approval of SEBI, RBI, International Financial Services Centres Authority (IFSCA) and Ministry of Corporate Affairs (MCA).

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