| Asset acquired liabilities assumed In business combination |
The following table provides a purchase price allocation to the identifiable assets acquired and liabilities assumed of eHDFC group and the noncontrolling interest at their estimated fair values as of the acquisition date.
|
|
|
|
|
| Particulars |
|
|
|
| |
|
|
|
| Consideration |
|
|
|
|
| Common equity share issued 3,110,396,492 shares of the Bank (6,220,792,984 equity shares after giving effect to the 1:1 bonus issue on August 28, 2025) |
|
Rs. |
5,292,028.6 |
|
| Share-based compensation |
|
|
35,240.7 |
|
| Share warrants |
|
|
10,472.2 |
|
|
|
|
|
|
| Fair value of total consideration transferred |
|
|
5,337,741.5 |
|
Settlement of pre-existing relationship (refer note below) |
|
|
(69,312.6 |
) |
|
|
|
|
|
| Investment in the Bank by eHDFC (refer note below) |
|
|
(1,981,494.4) |
|
| Fair value of net purchase consideration transferred |
|
|
3,286,934.5 |
|
|
|
|
|
|
|
|
| Acquisition-related costs |
|
|
1,900.0 |
|
|
|
| Less: |
|
|
|
|
Recognized amounts of identifiable assets acquired |
|
|
|
|
| Cash and due from banks |
|
|
10,344.1 |
|
| Investment securities |
|
|
2,842,356.2 |
|
| Loans – Net |
|
|
6,428,635.4 |
|
| Accrued interest receivable |
|
|
37,276.7 |
|
| Property and equipment |
|
|
39,136.2 |
|
| Identified intangibles assets |
|
|
1,434,818.1 |
|
| Other assets |
|
|
622,978.8 |
|
| Separate account assets |
|
|
857,528.7 |
|
|
|
|
|
|
| Total estimated assets acquired |
|
|
12,273,074.2 |
|
|
|
|
|
|
| Add: |
|
|
|
|
Recognized amounts of identifiable liabilities assumed and Noncontrolling Interests |
|
|
|
|
| Deposits |
|
|
1,571,204.5 |
|
| Accrued expenses and other liabilities |
|
|
781,742.3 |
|
| Borrowings |
|
|
4,977,276.5 |
|
| Separate account liabilities |
|
|
857,528.7 |
|
| Liabilities on policies in force |
|
|
1,499,749.1 |
|
| Noncontrolling interest in eHDFC subsidiaries |
|
|
926,787.1 |
|
|
|
|
|
|
| Total estimated liabilities assumed |
|
|
10,614,288.2 |
|
|
|
|
|
|
| Goodwill |
|
|
1,628,148.5 |
|
|
|
|
|
|
|
| Goodwill recorded as a result of the acquisition to the Bank's reportable segments |
The assignment of goodwill recorded as a result of the acquisition to the Bank’s reportable segments is as follows:
|
|
|
|
|
| Particulars |
|
|
|
| |
|
|
|
| Retail Banking |
|
Rs. |
368,079.6 |
|
| Wholesale Banking |
|
|
71,617.3 |
|
| Insurance Services |
|
|
959,080.0 |
|
| Others |
|
|
229,371.6 |
|
|
|
|
|
|
| Total |
|
|
1,628,148.5 |
|
|
|
|
|
|
|
| Major classess of identifiable acquired intangible assets and estimated period of amortisation |
The following table summarizes the major classes of identifiable acquired intangible assets and estimated period of amortization-
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
| |
|
Estimated Fair Value
(In millions) |
|
|
|
|
|
|
|
| Intangible asset |
|
|
|
|
|
|
|
|
|
|
|
|
| Brand |
|
Rs. |
750,758.2 |
|
|
|
Indefinite life |
|
|
|
Relief from royalty method (a) |
|
| Investment management contract |
|
|
369,785.6 |
|
|
|
Indefinite life |
|
|
|
Multi-period excess earnings method (b) |
|
| Value of business acquired |
|
|
221,738.5 |
|
|
|
Life of the underlying contracts |
|
|
|
Refer below (c) |
|
| Distribution network |
|
|
59,543.2 |
|
|
|
17 |
|
|
|
Multi-period excess earnings method (b) |
|
| Customer relationship |
|
|
29,874.9 |
|
|
|
17 |
|
|
|
Multi-period excess earnings method (b) |
|
| Transferable development rights |
|
|
3,117.7 |
|
|
|
8 |
|
|
|
Comparison method |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total |
|
|
1,434,818.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Details of PCD of eHDFC |
Following are the details of PCD of eHDFC acquired.
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
| Particulars |
|
|
|
|
|
|
|
|
|
| |
|
|
|
| Par value of PCD loans at acquisition |
|
Rs. |
72,684.7 |
|
|
Rs. |
43,961.6 |
|
|
Rs. |
116,646.3 |
|
| Allowance for credit losses on PCD loans at acquisition |
|
|
36,487.3 |
|
|
|
2,927.9 |
|
|
|
39,415.2 |
|
| Fair value of receivables at acquisition |
|
|
36,197.4 |
|
|
|
41,003.0 |
|
|
|
77,200.4 |
|
Non-credit discount/(premium) on PCD loans at acquisition |
|
|
— |
|
|
|
30.7 |
|
|
|
30.7 |
|
|
| Details of pre-existing relationship between HDFC Bank group ("the Bank and its subsidiaries") and eHDFC group |
Following are the details of pre-existing relationship between HDFC Bank group (“the Bank and its subsidiaries”) and eHDFC group:
|
|
|
|
|
| As of July 1, 2023 |
|
Financial statement line items |
|
|
|
| Cash and due from Banks |
|
Rs. |
52,875.3 |
|
| Investments, available for sale, at market |
|
|
18,407.5 |
|
| Accrued expenses and other liabilities |
|
|
(5,777.5 |
) |
| Other assets |
|
|
3,807.3 |
|
|
|
|
|
|
| Net Assets |
|
Rs. |
69,312.6 |
|
|
|
|
|
|
|