Sebi, through its letter dated May 10, 2023, to HDFC Asset Management Company, a subsidiary of HDFC and the investment manager of HDFC AMC AIF II, has granted its final approval for the proposed change in control of HDFC AMC, the private sector lender said in a stock exchange filing. “Sebi has also advised HDFC AMC to ensure compliance with all other provisions of Sebi (Alternative Investment Fund) Regulations, 2012 and circulars issued thereunder,” it added.
Termed as the biggest transaction in India’s corporate history, HDFC Bank on April 4 last year agreed to take over the biggest domestic mortgage lender in a deal valued at about $40 billion, creating a financial services titan.
The proposed entity will have a combined asset base of around ₹18 lakh crore.
