The Board of HDFC Asset Management Company at its meeting held on 24 July 2023 has approved additional investment of Rs 25 crore in equity share capital of HDFC AMC International (IFSC), Wholly Owned Subsidiary (WOS) of the Company.
The investment will enable the subsidiary to meet the net worth requirements prescribed for Registered Fund Management Entity (Retail) under the International Financial Services Centres Authority (Fund
Management) Regulations, 2022, to provide seed capital, if required, in certain funds to be set up by subsidiary in Gujarat International Finance Tec-City ‘GIFT) IFSC and to meet the operating and administrative expenses of the WOS, from time to time. |