Sebi approves transfer of controlling stake of HDFC AMC to HDFC Bank ...Middle East

HDFC Ltd on Friday said market regulator Securities and Exchange Board of India (Sebi) has approved the proposed change of controlling stake in HDFC AMC to HDFC Bank as part of the scheme of amalgamation. Sebi through its letter dated April 21, 2023, to HDFC Asset Management Company Limited (HDFC AMC), a subsidiary of HDFC Limited and the asset management company of HDFC Mutual Fund (HDFC MF), has granted its approval for the proposed change in control of HDFC AMC, HDFC Ltd said in a regulatory filing. The regulator has also advised HDFC AMC to ensure compliance with all other provisions of Sebi (Mutual Funds) Regulations, 1996, and circulars, it added. This approval will help pave the way f

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