The RBI, through its letter dated December 15, 2025, the bank disclosed, approved the proposal submitted by HDFC Bank on behalf of its affiliated entities.
The approval permits the acquisition by HDFC group entities such as HDFC Mutual Fund, HDFC Life Insurance Company Limited, HDFC ERGO General Insurance Company Limited, HDFC Pension Fund Management Limited, and HDFC Securities Limited.
The term “aggregate holding” includes combined shareholding by these entities under the same management or control, as outlined in the RBI (Commercial Banks – Acquisition and Holding of Shares or Voting Rights) Directions, 2025.
“We wish to inform you that the RBI vide its letter dated December 15, 2025, has given its approval to the Bank (being promoter / sponsor of its group entities viz HDFC Mutual Fund, HDFC Life Insurance Company Limited, HDFC ERGO General Insurance Company Limited, HDFC Pension Fund Management Limited and HDFC Securities Limited ) to acquire “aggregate holding” of up to 9.50% of the paid-up share capital or voting rights in IndusInd,” HDFC Bank said in a regulatory filing.
The approval is valid for one year, up to December 14, 2026.
During this period, HDFC Bank must ensure that the collective holding of its group entities in IndusInd Bank does not exceed 9.50% of the paid-up share capital or voting rights at any point in time.Although the Bank clarified that it does not intend to invest directly in IndusInd Bank, the approval was sought since the aggregate shareholding of its group entities could potentially exceed the 5% threshold stipulated in the RBI Directions.
The application was submitted to the RBI on October 24, 2025, as a precautionary measure under the revised regulatory norms.
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