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 February, 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: February 3, 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

HDFC Bank Limited to subscribe to 3,50,00,000 equity shares of face value of Rs. 10 each fully paid up, to be issued and allotted by RMBS Development Company Limited (“RDCL” or “Company”) for a consideration of Rs. 10 per equity share aggregating to Rs. 35 crores (Rupees Thirty Five Crores only).

Exhibit 99

February 3, 2024

New York Stock Exchange

11, Wall Street,

New York,

NY 10005

USA

Dear Sir/ Madam,

Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”)

We wish to inform you that HDFC Bank Limited (the “Bank”) has executed documentation on February 02, 2024 for subscribing to 3,50,00,000 equity shares of face value of Rs. 10 each fully paid up, to be issued and allotted by RMBS Development Company Limited (“RDCL” or “Company”) for a consideration of Rs. 10 per equity share aggregating to Rs. 35 crores (Rupees Thirty Five Crores only). As part of the transaction, the Bank will become one of the initial subscribers to the Memorandum and Articles of Association of RDCL by subscribing to 3,500 equity shares of face value Rs. 10 each fully paid up for a consideration of Rs. 10 per equity share aggregating to Rs. 35,000 (Rupees Thirty Five Thousand only).

Pursuant to Regulation 30 of the SEBI Listing Regulations, we wish to provide the following disclosures with respect to the above:

 

a.

    Name of the target entity, details in brief as size, turnover etc.   

RMBS Development Company Limited (“RDCL”)

 

The Company is proposed to be incorporated subject to the approval of the Registrar of Companies, Mumbai, Maharashtra.

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 any business dealings

with RDCL at an arm’s length.

c.

    Industry to which the entity being acquired belongs    The primary objective of RDCL, amongst others, is to promote and develop the residential-mortgage-backed-security (“RMBS”) market by investing in RMBS, facilitating investment/ issuance/ trade of RMBS, extend credit enhancement (including second loss credit enhancement) for RMBS transactions, provide liquidity support in the secondary market for RMBS transactions.

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 and develop the RMBS market in India.

e.

    Brief details of any governmental or regulatory approvals required for the acquisition    Since the acquisition of shareholding is below 10%, regulatory approval is not required.

f.

    Indicative time period for completion of the acquisition    By end of March 2024

g.

    Nature of consideration – whether cash consideration or share swap and details of the same   

Total cash consideration of Rs. 35,00,00,000 (Rupees Thirty Five Crores only).

h.

    Cost of acquisition or the price at which the shares are acquired    Rs. 10 per equity share of RDCL.

i.

    Percentage of shareholding / control acquired and / or number of shares acquired    Post investment, Bank will hold 7.00% of the equity share capital of RDCL, by way of subscription to 3,50,00,000 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)   

Date of incorporation: The Company is proposed to be incorporated subject to the approval of the Registrar of Companies, Mumbai, Maharashtra

 

The primary objective of RDCL, amongst others, is to promote and develop the RMBS market by investing in RMBS, facilitating investment/ issuance/ trade of RMBS, extend credit enhancement (including second loss credit enhancement) for RMBS transactions, provide liquidity support in the secondary market for RMBS transactions.

 

History of last 3 years’ turnover : Not applicable

 

Country of presence: India.

This is for your information and appropriate dissemination.

Yours faithfully,

For HDFC Bank Limited

Sd/-

Santosh Haldankar

Company Secretary

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