HDB Financial Services, a HDFC Bank subsidiary, files for a $1.5B IPO with parent bank holding 94.6% stake, aiming to fulfill regulatory requirements and support capital needs.
HDB Financial Services, a subsidiary of HDFC Bank, has filed for a $1.5 billion initial public offering (IPO). HDFC Bank, holding a 94.6% stake, plans to sell shares worth up to $1.2 billion, while HDB Financial will issue new shares valued at $300 million. The IPO aims to fulfill regulatory requirements and support capital needs. This marks HDFC’s first IPO in six years, amid a surge in Indian IPOs this year. Major banks are managing the offering.
October 31, 2024
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