HDB Financial IPO: The lender has been approved to initiate an initial public offering (IPO) by the board of HDB Financial Services, a division of HDFC Bank.
The Rs 2,500 crore HDB Financial IPO will comprise an offer-for-sale (OFS) component by current shareholders in addition to a new issue of equity shares.
“Comprising of a fresh issue of equity shares aggregating up to Rs 2,500 crore and an offer for sale of equity shares by existing and eligible shareholders of the company who may offer to tender their equity shares, which is subject to approval of the shareholders of the company, market conditions, receipt of applicable approvals, regulatory clearances, and other considerations,” the company said in a statement on Friday, September 20.
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Proposed ipo by hdb financial services limited.
Expected share holder quota – hdfc bank.
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— Investorniti (@investorniti) September 20, 2024
HDFC bank own 94.6 per cent
The bank that owns 94.6 per cent of HDB Financial, HDFC Bank, is currently shortlisting bankers for the initial public offering. As underwriters for the initial public offering (IPO), Morgan Stanley, Nomura, Bank of America, Axis Capital, IIFL, and ICICI Securities have been shortlisted, according to report.
The purpose of the share sale is to fulfil the Reserve Bank of India’s (RBI) regulations, which state that by September 2025, upper-layer non-banking finance companies must be listed on stock exchanges.
Company financials
According to the NBFC, its loan book increased by 17 per cent in FY23 to a total of Rs 66,000 crore. Robust demand for small business financing, auto loans, and personal loans propelled the growth. The business made Rs 1,740 crore in net profit in FY23.
Company business
Leading non-banking financial company (NBFC) HDB Financial Services provides a broad range of financial products and services, mainly to the retail and commercial segments.
Its areas of expertise include consumer loans, asset financing, loans against property, and secured and unsecured lending. Across India, HDBFS has made a name for itself as a reliable financial partner for individuals, startups, and large corporations.
