The following documents (bearing the exhibit number listed below) are furnished herewith and are made a part of this Report pursuant to the General Instructions for Form 6-K.
Exhibit I
Description
Approval from Competition Commission of India ("CCI") for sale of equity shares of HDFC Credila Financial Services Limited ("HDFC Credila") to (a) Kopvoorn B.V.,(which is a part of the BPEA EQT group) (b) Moss Investments Limited, (c) Defati Investments Holding B.V., and (d) Infinity Partners (each (b), (c) and (d) are a part of ChrysCapital group), and the entities listed in (a),(b),(c) and (d) are hereinafter collectively referred to as the "Acquirers"
August 09, 2023
New York Stock Exchange
11, Wall Street,
New York,
NY 10005
USA
Dear Sir/ Madam,
Sub:
Approval from Competition Commission of India ("CCI") for sale of equity shares of HDFC Credila Financial Services Limited ("HDFC Credila") to (a) Kopvoorn B.V.,(which is a part of the BPEA EQT group) (b) Moss Investments Limited, (c) Defati Investments Holding B.V., and (d) Infinity Partners (each (b), (c) and (d) are a part of ChrysCapital group), and the entities listed in (a),(b),(c) and (d) are hereinafter collectively referred to as the "Acquirers".
This is in connection with our earlier intimation dated June 19, 2023, wherein we had informed that erstwhile Housing Development Finance Corporation Limited ("HDFC Limited") had executed definitive documents on the said day, for disinvestment/sale of approximately 13,29,49,207 equity shares of HDFC Credila representing approximately 90% of HDFC Credila's total issued and paid-up share capital as on that date, to the Acquirers (the "Proposed Transaction"), subject to regulatory approvals and dispensations (including the Reserve Bank of India and CCI). HDFC Bank Limited ("HDFC Bank") has also executed the said definitive documents as a party being the successor entity of HDFC Limited.
We further refer to our letter dated July 01, 2023 wherein we had informed that HDFC Limited has been amalgamated with and into HDFC Bank, and accordingly, the entire investment of HDFC Limited in HDFC Credila stood transferred to HDFC Bank with effect from July 1, 2023.
In this regard, we understand that the CCI at its meeting held on August 8, 2023, granted its approval for the Proposed Transaction in terms of Section 31(1) of the Competition Act, 2002.
We request you to bring the above to the notice of all concerned.
HDFC Bank Limited published this content on 10 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2023 10:11:34 UTC.
HDFC Bank Limited is one of the largest Indian banking groups. Income breaks down by activity as follows:
- retail banking (46.9%);
- corporate banking (28.7%);
- market banking (12.4%);
- other (12%).
At the end of March 2019, the group had INR 9,225 billion of current deposits and INR 8,692.2 billion of current credits.
Products and services are marketed through a network of 5,000 branches located in India.
HDFC BANK LIMITED 