HDFC Bank to Invest Rs. 12,250 Crores in New Subsidiary of The Clearing Corporation India Limited

HDFC Bank has agreed to invest up to Rs. 12,250 crores in a proposed subsidiary of The Clearing Corporation India Limited, named New Co., which is yet to be incorporated in the International Financial Services Centre within GIFT City, Gujarat. The bank will become one of the initial subscribers to New Co., holding 6.125% of the equity share capital upon the first tranche investment.