HDFC Bank’s arm HDB Financial Services files with SEBI for Rs 12,500 crore IPO

HDB Financial Services Ltd, a diversified, retail-focused non-banking financial company (NBFC) promoted by HDFC Bank, has filed a Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO).

The public offer, which could amount to up to Rs 12,500 crore, includes a fresh issue of equity shares worth up to Rs 2,500 crore and an offer for sale (OFS) of up to Rs 10,000 crore, with HDFC Bank Ltd acting as the promoter selling shareholder.

The equity shares have a face value of Rs 10 each. The public offer also includes a reservation of equity shares for subscription by eligible employees, as well as reserved shares for eligible HDFC Bank shareholders.

Read Also : RITES Ltd announces Changes in Senior Management

HDB Financial Services Ltd proposes to utilize the net proceeds from the fresh issue towards augmenting the company’s Tier-I Capital base to meet the company’s future capital requirements including onward lending, arising out of the growth of the business.

HDB Financial Services offers a portfolio of lending products that cater to a diverse customer base through an omni-channel distribution network. The lending products are offered through three business verticals: Enterprise Lending, Asset Finance and Consumer Finance. 

Read Also : Secretary, Petroleum Ministry laid foundation stone for Advance Training Institute ONGC, Goa