HDFC Bank gets RBI nod to pick up 9.5% stake in Kotak Bank, AU and Capital SFBs

Mumbai: India’s largest personal sector lender HDFC Financial institution has acquired the Reserve Financial institution of India’s approval to choose up an combination stake of as much as 9.5% in Kotak Mahindra Financial institution, AU Small Finance Financial institution and Capital Small Finance Financial institution.

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In response to an alternate submitting launched by the lender late Friday evening, the regulator’s inexperienced sign is legitimate until January 2, 2026.

“The Reserve Financial institution of India has given its approval to HDFC Financial institution to accumulate ‘combination holding’ of as much as 9.50% of the share capital or voting rights in Kotak Mahindra Financial institution, AU Small Finance Financial institution and Capital Small Finance Financial institution,” the notification stated.

HDFC Financial institution wants to make sure that the holding by its group entities – HDFC Mutual Fund, HDFC Life Insurance coverage Firm, HDFC ERGO Normal Insurance coverage Firm and HDFC Pension Fund Administration Restricted – doesn’t exceed 9.5%.

The lender defined that whereas it doesn’t plan to put money into these banks for the reason that holding by its group entities might exceed the 5% funding cap, it had sought an approval from RBI to extend funding limits.

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