HDFC Bank Sets Course with Rs 12,500 Crore IPO for HDB Financial Services

HDFC Bank has announced a Rs 12,500 crore initial public offering (IPO) for its subsidiary, HDB Financial Services. The IPO will include a Rs 2,500 crore fresh issue and a Rs 10,000 crore offer for sale. This move adheres to an RBI directive for NBFCs to list on stock exchanges.

HDFC Bank has greenlit a share sale worth Rs 12,500 crore, initiating an IPO for its subsidiary, HDB Financial Services. This strategic maneuver involves a fresh issue of Rs 2,500 crore coupled with a substantial offer for sale (OFS) of Rs 10,000 crore.

The IPO, focused on equity shares with Rs 10 face value each, will evolve in alignment with forthcoming determinations on pricing and related specifics.

The Reserve Bank of India's mandate from October 2022, compelling non-banking financial companies (NBFCs) like HDB in the upper echelons to go public, has influenced this notable decision.

(With inputs from agencies.)