The proposed entity will have a combined asset base of around Rs 18 lakh crore. Termed as the biggest transaction in India’s corporate history, HDFC Bank on April 4 last year agreed to take over the biggest housing finance company in a deal valued at about $40 billion, creating a financial services titan. The merger is expected to come into effect by July this year. Understand the ongoing implications COVID-19 is still having on ports around the world with our bespoke tracker. The recent developments are being seen in view of the scheme of amalgamation between HDFC Bank and HDFC. On Monday, the covid test positivity rate (TPR) reached. However, cases in Karnataka especially in Bengaluru are on the rise with 1,000-plus cases a day. The announcement comes three days after HDFC Bank said it has received permission from the Reserve Bank of India (RBI) - the country's banking sector regulator - to increase stake in HDFC Life and HDFC ERGO to more than 50 percent. Now, there are fewere that 500 cases a day. or (ii) controlling, directly or indirectly, 20 percent or more of Griha Pte," the exchange filing stated. Karnataka has further relaxed the Covid-19 restrictions in 17 districts where the positivity rate is below 5 per cent, including Bengaluru, starting from Monday, allowing all shops to function from 6am to 5pm and public transport to resume operations with 50 per cent capacity. by HDFC Bank, which would result in HDFC Bank – (i) acquiring or holding, directly or indirectly, 20 percent or more of the issued share capital of Griha Pte. ".Monetary Authority of Singapore (MAS) vide its e-mail dated Apto Griha Pte, has granted its approval for acquisition of shares in Griha Pte. The entity is a foreign step-down subsidiary of the Housing Development Finance Corporation (HDFC). Griha Pte, founded in 2012, is a boutique private equity fund manager headquartered in Singapore and registered with MAS. HDFC Bank is set to acquire a "20 percent or more" stake in Griha Pte, a wholly-owned subsidiary of HDFC Investments, as it has received regulatory clearance from the Monetary Authority of Singapore (MAS), as per a regulatory filing made on April 24.
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