Overview
- The approval letter dated December 15 permits an aggregate stake of up to 9.50% through December 14, 2026.
- HDFC Bank said it does not plan to invest directly, with any purchases to be made by group entities such as HDFC Mutual Fund, HDFC Life, HDFC ERGO, HDFC Pension Fund and HDFC Securities.
- Under the November 2025 directions, aggregate holding includes shares across entities under common control, including mutual funds, insurers, trustees and promoter group companies.
- The nod requires compliance with banking, foreign exchange and securities rules, bars board representation at IndusInd, caps holdings at 9.50% at all times and will lapse if acquisitions are not completed within one year.
- HDFC-affiliated investors held about 4% of IndusInd at end-September, mutual funds own nearly 23% overall, and both stocks were in focus after the disclosure.