0001193125-24-145196.txt : 20240523 0001193125-24-145196.hdr.sgml : 20240523 20240522194327 ACCESSION NUMBER: 0001193125-24-145196 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240521 FILED AS OF DATE: 20240523 DATE AS OF CHANGE: 20240522 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HDFC BANK LTD CENTRAL INDEX KEY: 0001144967 STANDARD INDUSTRIAL CLASSIFICATION: COMMERCIAL BANKS, NEC [6029] ORGANIZATION NAME: 02 Finance IRS NUMBER: 000000000 STATE OF INCORPORATION: K7 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-15216 FILM NUMBER: 24974922 BUSINESS ADDRESS: STREET 1: 'HDFC BANK HOUSE', SENAPATI BAPAT ROAD STREET 2: LOWER PAREL (WEST), MUMBAI INDIA CITY: INDIA STATE: K7 ZIP: 400013 BUSINESS PHONE: 91224957676 MAIL ADDRESS: STREET 1: KAMALA MILLS COMPOUND STREET 2: SENAPATI BAPAT MARG, LOWER PAREL CITY: MUMBAI INDIA STATE: K7 ZIP: 400013 6-K 1 d807457d6k.htm FORM 6-K Form 6-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 under the

Securities Exchange Act of 1934

For the month of May, 2024

Commission File Number 001-15216

HDFC BANK LIMITED

(Translation of registrant’s name into English)

HDFC Bank House, Senapati Bapat Marg,

Lower Parel, Mumbai. 400 013, India

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

 

 

 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

   

HDFC BANK LIMITED

       (Registrant)
Date: May 21, 2024     By:  

/s/ Santosh Haldankar

   

Name:  Santosh Haldankar

   

Title:   Company Secretary


EXHIBIT INDEX

The following documents (bearing the exhibit number listed below) are furnished herewith and are made a part of this report pursuant to the General Instructions for Form 6-K.

Exhibit No. 99

Description

Disclosure

 

EX-99 2 d807457dex99.htm EX-99 EX-99

Exhibit 99

May 21, 2024

New York Stock Exchange

11, Wall Street,

New York,

NY 10005

USA

Dear Sir/ Madam,

Sub: Disclosure

We wish to inform you that HDFC Bank Limited (the “Bank”) has executed documentation on May 17, 2024 with The Clearing Corporation India Limited (“CCIL”) along with 7 other shareholders in relation to an investment in the equity shares of a proposed subsidiary of CCIL which is yet to be incorporated (“New Co.”) in International Financial Services Centre (“IFSC”) within the Gujarat International Finance Tec-City (“GIFT City”).

The Bank has agreed for subscribing for equity shares of face value of Rs. 10 each fully paid up, to be issued and allotted by New Co. for a consideration aggregating up to Rs. 12,25,00,000 (Rupees Twelve Crores Twenty-Five Lakhs only) over two or more tranches. As part of the proposed transaction, the Bank will become one of the initial subscribers to the Memorandum and Articles of Association of New Co. by subscribing to 61,25,000 equity shares of face value Rs. 10 each fully paid up for a consideration of Rs. 10 per equity share aggregating to Rs. 6,12,50,000 (Rupees Six Crores Twelve Lakhs Fifty Thousand only). The proposed investment in New Co. is subject to regulatory approval, if any.

 

a.     Name of the target entity, details in brief as size, turnover etc.    Target entity (“New Co.”) is proposed to be established by The Clearing Corporation of India Limited (as its subsidiary) and 7 other banks to initially provide Foreign Currency Settlement System at GIFT City -IFSC, to be authorised as a Payment System under the Payment and Settlement Systems Act, 2007 and may further provide the services as provided by CCIL or its subsidiaries, and such other services as may be permissible under applicable laws within the GIFT City-IFSC.
b.     Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length”   

This transaction does not constitute a related party transaction.

 

The Bank and/or its subsidiaries in the ordinary course of business may have business relationship in future with New Co. at an arm’s length.

c.     Industry to which the entity being acquired belongs    New Co. is proposed to be established by The Clearing Corporation of India Limited (as its subsidiary) and 7 other banks to initially provide Foreign Currency Settlement System at GIFT City -IFSC, to be authorised as a Payment System under the Payment and Settlement Systems Act, 2007 and may further provide the services as provided by CCIL or its subsidiaries, and such other services as may be permissible under applicable laws within the GIFT City-IFSC.


d.     Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity)    Equity ownership of an entity which intends to promote the business of clearing and settlement of transactions in foreign exchange, foreign currencies and foreign securities of all kinds in GIFT City-IFSC.
e.     Brief details of any governmental or regulatory approvals required for the acquisition    International Financial Services Centres Authority, if required.
f.     Indicative time period for completion of the acquisition    Within 365 days from documentation dated May17th, 2024.
g.     Nature of consideration – whether cash consideration or share swap and details of the same    Total cash consideration of up to Rs. 12,25,00,000 (Rupees Twelve Crores Twenty-Five Lakhs only) over two or more tranches, of which first tranche of investment is Rs. 6,12,50,000 (Rupees Six Crores Twelve Lakhs Fifty Thousand only).
h.     Cost of acquisition or the price at which the shares are acquired    Rs. 10 per equity share of New Co. for the first tranche investment of 61,25,000 equity shares aggregating to Rs. 6,12,50,000 (Rupees Six Crores Twelve Lakhs Fifty Thousand only).
i.     Percentage of shareholding / control acquired and / or number of shares acquired    Upon the first tranche investment, Bank will hold 6.125% of the equity share capital of New Co., by way of subscription to 61,25,000 equity shares of face value of Rs. 10 each fully paid up.
j.     Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief)   

New Co. is proposed to be incorporated as a subsidiary of CCIL in the International Financial Services Centre (“IFSC”) within the Gujarat International Finance Tec-City (“GIFT City”).

 

New Co. expected to initially provide Foreign Currency Settlement System at GIFT City-IFSC, to be authorised as a Payment System under the Payment and Settlement Systems Act, 2007 and may further provide the services as provided by CCIL or its subsidiaries, and such other services as may be permissible under applicable laws within the GIFT City-IFSC.

 

History of last 3 years’ turnover: Not applicable

Country of presence: Operations proposed in GIFT City-IFSC in India.

This is for your information and appropriate dissemination

Yours faithfully,

For HDFC Bank Limited

Sd/-

Santosh Haldankar

Company Secretary