HDB Financial Services goes public: HDFC Bank approves IPO of HDB Financial Services with fresh share sale worth Rs 2,500 crore

The board of directors of HDFC Bank has given its approval in principle to take over its financial services unit HDB Financial Services public through an initial public offering (IPO).

Under the IPO, the fresh share sale will amount to Rs 2,500 crore. There will be an offer for sale component, where existing and eligible interested shareholders of the company will be able to tender their equity shares.

HDB Financial Services is a leading non-banking financial company (NBFC), which primarily serves the retail and commercial segments, offering a wide range of financial products and services.

Specializing in secured and unsecured loans, asset finance, consumer loans and home equity loans, HDBFS has established itself as a trusted financial partner for individuals, small businesses and large corporates across India.

The NBFC reported a 17% year-on-year growth in its loan portfolio for FY23 to Rs 66,000 crore. The growth was driven by robust demand for personal loans, vehicle loans and small business financing. Meanwhile, the company’s net profit for FY23 stood at Rs 1,740 crore.

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