HDFC Bank group gets RBI approval for acquiring up to 9.50% stake in AU Small Finance Bank Ltd

AU Small Finance Bank Limited ("AU SFB") has received a copy of letter of the Reserve Bank of India ("RBI") dated January 3, 2025 addressed to HDFC Bank Limited that it has accorded its approval to the HDFC Bank Limited (which includes its group entities viz HDFC Mutual Fund, HDFC Life Insurance Co. Ltd., HDFC Pension Management Co. Ltd., HDFC ERGO General Insurance Co. Ltd. and HDFC Securities Ltd.) to acquire 'aggregate holding' of up to 9.50% of the paidup share capital or voting rights in the AU SFB within one year from the date of RBI approval letter, failing which RBI approval shall stand cancelled.

Shares of AU Small Finance Bank Limited was last trading in BSE at Rs. 573.45 as compared to the previous close of Rs. 570.50. The total number of shares traded during the day was 24903 in over 1294 trades.

The stock hit an intraday high of Rs. 585.05 and intraday low of 567.75. The net turnover during the day was Rs. 14427152.00.

Source : Equity Bulls

Keywords

AUSmallFinanceBank INE949L01017 RBI Approval HDFCBank StakeAcquisition