CIN: L65920MH1994PLC080618 | HDFC Bank Limited, | |
Email: shareholder.grievances@hdfcbank.com | Zenith House, | |
Website: www.hdfcbank.com | Opp Race Course Gate no. 5 & 6, | |
Keshavrao Khadye Marg, | ||
Mahalaxmi, Mumbai- 400034 | ||
Tel.: 022-39760001 / 0012 | ||
November 20, 2020 | ||
BSE Limited | The National Stock Exchange of India Limited | |
Dept of Corporate Services | The Listing Department | |
Phiroze Jeejeebhoy Towers, | Exchange Plaza | |
Dalal Street, Fort, | Bandra Kurla Complex, | |
Mumbai 400 001 | Mumbai 400 051 | |
Scrip Code - 500180 | Symbol - HDFCBANK |
Sub.: Disclosure under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations")
Dear Sir/Madam,
We wish to inform you that HDFC Bank Limited (the "Bank") has become one of the initial subscribers to the Memorandum and Articles of Association of IBBIC Private Limited (IBBIC) on November 20, 2020.
Pursuant to Regulation 30 of the SEBI Listing Regulations, we wish to provide the following disclosures with respect to the above:
a. | Name of the target entity, | IBBIC Private Limited ("IBBIC"). |
details in brief as size, turnover | ||
etc. | The said company name is subject to approval of | |
Registrar of Companies, Mumbai. | ||
b. | Whether the acquisition would | This transaction does not constitute a related |
fall within related party | party transaction. | |
transaction(s) and whether the | ||
promoter/ promoter group/ | As on date, the Bank's Promoters do not have | |
group companies have any | any interest in IBBIC. | |
interest in the entity being | ||
acquired? If yes, nature of | The Bank and its subsidiaries in the normal | |
interest and details thereof and | course of business may have business dealings | |
whether the same is done at | with IBBIC at an arm's length. | |
"arm's length" | ||
c. | industry to which the entity | IBBIC is proposed to be incorporated as a |
being acquired belongs | financial technology company with the objective | |
of providing a platform for exploring, building | ||
and implementing Distributed Ledger | ||
Technology ("DLT") solutions for the financial | ||
services sector. | ||
d. | objects and effects of | Equity ownership of an entity aiming to provide |
acquisition (including but not | DLT solutions for the financial services sector. | |
limited to, disclosure of | ||
reasons for acquisition of | ||
target entity, if its business is |
Regd. Office: HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400 013
outside the main line of | ||
business of the listed entity) | ||
e. | Brief details of any | Since the acquisition of shareholding is below |
governmental or regulatory | 10%, regulatory approval is not required. | |
approvals required for the | ||
acquisition | ||
f. | Indicative time period for | By the end of December 2020. |
completion of the acquisition | ||
g. | Nature of consideration - | Cash consideration of Rs. 500,000 (Rupees Five |
whether cash consideration or | lakhs only). | |
share swap and details of the | ||
same | ||
h. | Cost of acquisition or the price | Rs. 10 per equity share of IBBIC. |
at which the shares are | ||
acquired | ||
i. | Percentage of shareholding / | Post investment, Bank will hold 6.67% of the |
control acquired and / or | equity shareholding of IBBIC, by way of | |
number of shares acquired | subscription to 50,000 equity shares of face value | |
of Rs. 10 each. | ||
j. | Brief background about the | Date of Incorporation: application for company |
entity acquired in terms of | registration of IBBIC will be submitted to | |
products/line of business | Registrar of Companies, Mumbai by the end of | |
acquired, date of incorporation, | November 2020. | |
history of last 3 years turnover, | ||
country in which the acquired | IBBIC is proposed to provide a platform for | |
entity has presence and any | exploring, building and implementing DLT | |
other significant information | solutions for the financial services sector. | |
(in brief) | History of last 3 years turnover: Not Applicable. | |
Country of presence: India. |
This is for your information and appropriate dissemination.
Thanking you,
Yours faithfully,
For HDFC Bank Ltd
Santosh Haldankar
Sr. Vice President (Legal) & Company Secretary
Regd. Office: HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400 013
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HDFC Bank Limited published this content on 20 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 November 2020 08:08:02 UTC