HDFC AMC has announced important changes in its senior management structure, particularly within the Fixed Income division. The Board of Directors, acting on recommendations from the Nomination and Remuneration Committee, approved these strategic personnel changes on March 6, 2026.

Leadership Transition in Fixed Income Division

The company has structured a smooth transition plan for its Fixed Income leadership. The changes involve two key executives with extensive experience in the division.

Executive Profiles and Experience

Shobhit Mehrotra brings over two decades of experience to his new role. He has been associated with HDFC AMC since February 2004, initially serving as Senior Fund Manager – Fixed Income and Head – Credit until July 2022, when he was appointed as Head – Fixed Income. His career spans multiple organizations:

• Franklin Templeton Investments (India): 7 years (February 1997 to February 2004)
• ICRA Limited: 4 years and 6 months (July 1992 to January 1997)
• Beaulieu of America Inc. (USA): 1 year (December 1989 to December 1990)

Mehrotra holds a Master of Business Administration and Master of Science from Clemson University, South Carolina, USA.

Anil Bamboli has been with HDFC AMC since July 2003, demonstrating long-term commitment to the organization. He served as Assistant Vice President – Fixed Income until February 2005, after which he was designated as Senior Fund Manager – Fixed Income. Prior to joining HDFC AMC, he worked with SBI Funds Management Private Limited for 8 years and 10 months (May 1994 to July 2003). Bamboli is a Chartered Financial Analyst from CFA Institute, USA, and holds a Masters in Management Studies from the University of Mumbai.

Strategic Rationale Behind Changes

The transition reflects the company's approach to succession planning while retaining valuable expertise. Mehrotra's move from Head – Fixed Income is due to attaining superannuation age as per company policy. However, the Board has decided to retain his services in a new capacity to leverage his extensive experience in Fixed Income and credit analysis.

Reporting Structure and Compliance

Both executives will continue as part of the Senior Management Personnel in accordance with Regulation 16 of the Listing Regulations. They will report directly to Navneet Munot, Managing Director & Chief Executive Officer. The changes comply with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, under Regulation 30, ensuring full transparency with stakeholders.

The announcement demonstrates HDFC AMC's commitment to maintaining continuity in its Fixed Income operations while creating opportunities for internal talent development and knowledge retention.

HDFC AMC has announced the allotment of 51,428 equity shares under its Employee Stock Option Scheme 2020. The Share Allotment Committee approved this allotment on February 17, 2026, through a circular resolution passed in compliance with regulatory requirements.

Share Allotment Details

The allotted equity shares carry a face value of Rs. 5 each and were issued to an eligible employee who exercised stock options under the company's ESOP 2020 scheme. The shares bear distinctive numbers ranging from 42,83,08,493 to 42,83,59,920, both numbers inclusive.

Updated Share Capital Structure

Following this allotment, HDFC Asset Management Company's paid-up share capital has been revised upward. The company now has a total paid-up share capital of Rs. 2,14,17,99,600, comprising 42,83,59,920 equity shares of Rs. 5 each.

Regulatory Compliance

The company has informed both the National Stock Exchange of India Limited and BSE Limited about this allotment in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification was signed by Company Secretary Sonali Chandak on behalf of HDFC Asset Management Company Limited.

This allotment represents the company's ongoing commitment to its employee stock option program, providing eligible employees with opportunities to participate in the company's equity growth through structured stock option exercises.