HDB Financial Services, a subsidiary of HDFC Bank, is preparing for its Initial Public Offering (IPO) after receiving board approval on September 20, 2024. The IPO will consist of a fresh issue of shares worth up to Rs 2,500 crore, along with an offer for sale (OFS) by existing shareholders. This move is in line with the Reserve Bank of India’s directive for upper-layer NBFCs to list on stock exchanges.
HDB Financial Services, which has a wide presence across 27 states, provides a variety of financial services, including secured and unsecured loans. The IPO is expected to further bolster the company’s capital base and position it for future growth.
HDFC Bank, which holds a 94.64% stake in HDB Financial, will remain the majority shareholder post-IPO. The offering follows the successful public listings of other major NBFCs, making it a significant development in India’s financial sector.
