HDB Financial Services Gears Up for Major IPO
HDB Financial Services is set to launch a Rs 12,500-crore IPO, opening to the public on June 25. The offering includes a fresh equity issue and a sale of promoter shares. Proceeds will enhance its Tier-I capital, driven by an RBI directive for NBFCs to list publicly.
- Country:
- India
HDB Financial Services, a subsidiary of HDFC Bank, has announced its Rs 12,500-crore initial public offering (IPO) will open on June 25 for public subscription. The company has earmarked June 24 for anchor investor bids.
In a regulatory filing, HDFC Bank confirmed the offer's reservation for eligible employees and shareholders. The IPO combines a fresh equity issue of Rs 2,500 crore and an offer for sale of Rs 10,000 crore by HDFC Bank.
Proceeds from the fresh issue are intended to bolster HDB's Tier-I capital, facilitating future growth. This move aligns with an RBI mandate requiring certain NBFCs to list by 2025.
(With inputs from agencies.)
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