HDFC Bank has seen a sharp decline in foreign investor ownership since its merger with HDFC, as the bank has faced growing investor scrutiny over its growth, margins and leadership transition.
Foreign institutional investor holdings in HDFC Bank stood at 52.13% in September 2023. By June 2026, it had fallen to 41.82%, a drop of 10.31 percentage points. The latest quarter saw a particularly steep decline, with FII holding falling from 44.05% in March 2026 to 41.82% in June 2026.