HDFC Bank unit HDB Finance IPO: HDFC Bank’s company’s IPO is coming
The HDB Finance IPO will include a fresh equity issue of Rs. 2500 crore and an offer for sale by existing shareholders. HDFC Bank holds a 94.64 percent stake in HDB Financial Services.
HDB Finance IPO: The IPO of HDB Financial Services Limited, a non-banking subsidiary of private sector HDFC Bank, is about to be launched. The plan for this IPO has been approved by the board of HDB Financial Services. The IPO will include a fresh equity issue of Rs. 2500 crore and an offer for sale by existing shareholders. HDFC Bank holds a 94.64 percent stake in HDB Financial Services.
HDB Finance IPO expected to be brought by March 2025
If media reports are to be believed, the IPO is likely to come in the market by the end of the current financial year. This means that the IPO will come by March 2025. The process of shortlisting bankers for this issue is going on. Foreign banks such as Morgan Stanley, Bank of America, and Nomura have been shortlisted along with domestic companies such as ICICI Securities, Axis Capital, and IIFL.
HDFC Bank is seeking a valuation of Rs. 78,000-87,000 crore for HDB Finance. In this IPO, the bank can sell its 10-15 percent stake, potentially raising Rs. 7,800-8,700 crore, which will increase its capital adequacy.
Why the decision was taken
The decision to list HDB Financial Services came after the Reserve Bank’s order in October 2022 making listing with conditions mandatory for non-banking financial companies (NBFCs). For this reason, Bajaj Housing Finance’s IPO has also come. Let us tell you that Bajaj Housing Finance’s IPO had a bumper listing. This IPO doubled the investors’ money on the listing day.
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