HDFC Bank: Updates on increasing foreign shareholding limit

Dec 19, 2013, 09.16 AM IST

Since the total foreign shareholding in HDFC Bank (FII and FDI) has crossed 49 percent, the Bank has filed an application with the Foreign Investment Promotion Board (FIPB) seeking approval for increasing its foreign shareholding limit, in accordance with the now prevailing guidelines.

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HDFC Bank: Updates on increasing foreign shareholding limit

Since the total foreign shareholding in HDFC Bank (FII and FDI) has crossed 49 percent, the Bank has filed an application with the Foreign Investment Promotion Board (FIPB) seeking approval for increasing its foreign shareholding limit, in accordance with the now prevailing guidelines.

Like this story, share it with millions of investors on M3

HDFC Bank: Updates on increasing foreign shareholding limit

Since the total foreign shareholding in HDFC Bank (FII and FDI) has crossed 49 percent, the Bank has filed an application with the Foreign Investment Promotion Board (FIPB) seeking approval for increasing its foreign shareholding limit, in accordance with the now prevailing guidelines.

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HDFC Bank Ltd has informed BSE that:"We refer to a Press Release issued by the Reserve Bank of India notifying that the foreign shareholding through Foreign Institutional Investors (FIIs)/Non Resident Indians(NRI)/Persons of Indian Origin (PIO)/Foreign Direct Investment (FDI)/ADRs/GDRs in HDFC Bank Limited has crossed the overall limit of 49% of its paid-up capital and that no further purchases of shares of HDFC Bank Limited would be allowed through stock exchanges in India on behalf of FII/NRI/PIO/FDI/ADRs/GDRs.The foreign shareholding in the Bank as on December 13, 2013 was 52.18% of its paid-up capital. This includes investments through the FDI route in ADRs/GDRs of 17.01% which were raised in accordance with the then applicable guidelines, and other foreign holdings made under the FII route of 35.17%. Necessary approval from the shareholders is in place for FII investments up to 49%.Since the total foreign shareholding in the Bank (FII and FDI) has crossed 49%, the Bank has filed an application with the Foreign Investment Promotion Board (FIPB) seeking approval for increasing its foreign shareholding limit, in accordance with the now prevailing guidelines."Source : BSE

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