SEBI (Securities and Exchange Board of India) has approved the merger of HDFC Asset Management Company Limited with HDFC Bank

Daily Current Affairs / SEBI (Securities and Exchange Board of India) has approved the merger of HDFC Asset Management Company Limited with HDFC Bank

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Category : Business and economics Published on: May 29 2023

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HDFC Asset Management Company (AMC) announced on 24 May 2023, that it has received final approval from capital markets regulator SEBI for a change in control due to the HDFC-HDFC Bank merger.
According to the regulatory information sent by HDFC AMC to the stock exchanges, this depends on the compliance of the applicable provisions of the PMS Regulations and its circulars.
This approval will help pave the way for the merger of HDFC into HDFC Bank, expected to be finalised by the third quarter of the next financial year.