SEBI grant approval for proposed change in control of HDFC Property Ventures

HDFC Bank announced that Securities and Exchange Board of India (SEBI), vide its letter dated 11 October 2022 to HDFC Property Ventures (HPVL), which was received by HPVL on 14 October 2022, has granted its approval for the proposed change in control of HPVL, a wholly-owned subsidiary of HDFC and an investment adviser registered with SEBI, subject to HPVL obtaining a fresh certificate of registration within 6 months before getting the previous registration cancelled.

Previously, the Bank has received no-objection/ approval letters from stock exchanges, Reserve Bank of India and Competition Commission of India for the proposed composite scheme of amalgamation (Scheme) for the amalgamation of: (i) HDFC Investments and HDFC Holdings, wholly-owned subsidiaries of Housing Development Finance Corporation (HDFC), with and into HDFC and (ii) HDFC with and into HDFC Bank.

Powered by Capital Market - Live News