Housing Development Finance Corporation (HDFC) announced that the Securities and Exchange Board of India (SEBI) on 04 August 2022 has granted its in-principle approval for change in control of HDFC Asset Management Company, a subsidiary of HDFC, and the asset management company of HDFC Mutual Fund, due to change in co-sponsor of
HDFC Mutual Fund, on account of proposed amalgamation of HDFC with and into HDFC Bank.
The Scheme remains subject to various statutory and regulatory approvals inter alia including approvals from the Competition Commission of India, the NCLT and the respective shareholders and creditors of the companies involved in the Scheme as may be required.
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