HDFC Bank unit HDB Financial Services files with SEBI for ₹12,500 crore IPO
The Hindu
HDB Financial Services Ltd files DRHP for IPO with HDFC Bank as Promoter Selling Shareholder, targeting diverse customer base.
HDFC Bank promoted, HDB Financial Services Ltd, a diversified retail-focused non-banking financial company (NBFC) has filed Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO).
The Public Offer aggregating up to ₹12,500 crore comprises of a fresh issue of equity shares aggregating up to ₹2,500 crore and an offer for sale (OFS) aggregating up to ₹10,000 crore HDFC Bank Ltd the Promoter Selling Shareholder with face value of ₹10 each equity share.
The Public Offer Includes a reservation of Equity Shares for subscription by Eligible Employees and a reservation Equity Shares of Face Value of ₹10 each for subscription by eligible HDFC Bank shareholders.
HDB Financial Services Ltd proposes to utilise 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.
The company is one of India’s largest and fastest-growing customer franchises, according to the CRISIL Report, and has served 17.5 million customers as of September 30, 2024, which grew at a CAGR of 28.22% between March 31, 2022 and September 30, 2024.
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