New Delhi, Dec 16: HDFC Bank has received approval from the RBI for its group entities to hold up to a 9.50% stake in IndusInd Bank for one year, until December 14, 2026.
This approval limits the total holding of HDFC Bank and its group entities to 9.50% of IndusInd’s paid-up share capital or voting rights at all times. The approval applies to the aggregate holdings of HDFC Mutual Fund, HDFC Life, HDFC ERGO, HDFC Pension, and HDFC Securities.
HDFC Bank clarified it does not plan to invest directly in IndusInd but sought the approval as its group’s investments were likely to exceed the prior 5% limit.
