HDFC Bank’s subsidiary, HDB Financial Services, has filed for a major Initial Public Offering (IPO) worth Rs 12,500 crore ($1.49 billion).
The IPO includes a fresh share issue of Rs 2,500 crore and an Offer for Sale (OFS) by existing shareholders totaling Rs 10,000 crore. HDFC Bank, which holds a 94.6% stake in HDB Financial, plans to divest up to Rs 10,000 crore through this OFS. The funds raised by HDB will support its capital needs, especially for onward lending. The IPO awaits regulatory approvals and will proceed based on market conditions.