The 31st Annual General Meeting (AGM) of HDFC Bank will be held on Friday, August 8, 2025, at 02:00 p.m. IST through two-way video-conferencing.
Dividend of ₹22 per equity share of Re. 1 each, if approved by shareholders at the AGM, will be paid on or after Monday, August 11, 2025. The record date for determining eligibility is Friday, June 27, 2025.
M/s. B S R & Co. LLP, Chartered Accountants, has been appointed as one of the Joint Statutory Auditors for 3 years, effective from FY 2025-26 until FY 2027-28, subject to shareholders' approval at the AGM and RBI approval for each subsequent year. This appointment is in place of M/s. Price Waterhouse LLP, who are rotating out as per RBI guidelines.
M/s B S R & Co. LLP will act as Joint Statutory Auditors along with M/s Batliboi & Purohit, Chartered Accountants for the remainder of their term.
HDFC Bank's subsidiary, HDB Financial Services (HDBFS), has fixed the price band for its Initial Public Offering (IPO) at ₹700 to ₹740 per equity share with a face value of ₹10.
The minimum bid lot for the IPO is set at 20 equity shares, with applications allowed in multiples of 20 thereafter.
HDFC Bank's Board of Directors has approved the transfer of the requisite number of equity shares of HDBFS, held by the bank, as part of the Offer for Sale in relation to the IPO.
These shares have been transferred to the escrow account opened by HDBFS.
HDFC Bank informs that its subsidiary, HDB Financial Services (HDBFS), has filed a Red Herring Prospectus (RHP) dated 19 June 2025 with the Registrar of Companies in Ahmedabad.
The RHP is in connection with HDBFS's Initial Public Offer (IPO) of equity shares.
HDFC Bank addressed media articles published on June 7, 2025, regarding accusations of financial fraud against its MD & CEO by the Lilavati Hospital trust.
The bank unequivocally rejected these allegations, stating they are malicious, baseless, and constitute a gross misuse of the legal process.
HDFC Bank asserted that these actions are a deliberate attempt by the Mehta family, owners of Splendour Gems Limited (formerly Beautiful Diamonds Limited), to thwart the recovery of a long-outstanding loan.
Splendour Gems Limited defaulted on loan facilities granted in 1995. The outstanding dues to HDFC Bank, including interest, amount to approximately INR 65.22 crore as on May 31, 2025.
The bank claimed that the Mehta family has previously initiated multiple legal actions and complaints against the bank and its officials, which have largely been dismissed or are under legal challenge.
HDFC Bank views these allegations as retaliatory and an attempt to obstruct legitimate recovery proceedings and malign the bank's reputation.
The bank reiterated its commitment to high corporate governance standards and stated it would continue to pursue all lawful remedies to recover public funds and defend its reputation and integrity.