SEBI Approves HDB Financial’s IPO

SEBI Approves HDB Financial’s IPO: Company To Raise Rs 12,500 Crore From Trouble, HDFC Bank Will Certainly Sell The Issuer At A Price Of ₹ 10 Thousand Crore

HDFC Bank’s non-banking subsidiary enterprise HDB Financial Services Ltd has received SEBI approval for IPO. HDB Financial ₹ 12,500 crore is looking to raise an IPO. This proposal of the enterprise is made up of every shining trouble and is an offer for sale.

HDB Financial Services filed its Draft Red Herring Prospectus i.e. DRHP with market regulator Securities Exchange Board of India (SEBI) for the IPO in October last year.

HDFC Bank will certainly sell well as well as ₹10,000 crore of HDB in trouble

The enterprise will certainly trouble new shares at a price of well as well as ₹2,500 crore. At the same time, promoter HDFC Bank will certainly sell well as well shares at a price of ₹10,000 crore of the enterprise through offer for sale. HDFC Bank holds 94.64% stake with the enterprise.

Apart from HDB, A-One Steels India Ltd, Shanti Gold International Ltd, Dorf-Kettle Chemicals India Ltd and Shreeji Shipping Global Ltd have also received approval from SEBI for IPO. 8 months ago, the board of HDB Financial approved the IPO plan.

In addition, HDB Financial’s IPO may actually also have shareholder quota. The company has shortlisted overseas investors such as Morgan Stanley, Bank of America and Nomura as well as domestic investors such as ICICI Securities, Axis Capital and IIFL for the IPO, a filing in September said.

HDB’s market cap is around Rs 1.01 lakh crore

At present, HDB Financial Services has a market cap of Rs 1.01 lakh crore. Its unlisted shares are priced at Rs 1,275. After listing, the company could clearly take on some of the biggest listed financial companies in terms of market cap.

HDB wants to list before September 2025

The financial group was forced to float an IPO of HDB as the company wants to list before September 2025 to comply with Reserve Bank of India norms. The RBI had ordered in September 2023 that NBFCs diagnosed as part of the ‘pinnacle layer’ should be listed on the stock exchanges within 3 years.

HDB has more than 1,680 branches in India at some stage

Founded in 2007, HDB gives secured and unsecured loans. It has more than 1,680 branches in India at some stage. HDB Financial Services additionally advances financial services like private loans, gold loans, industrial organization loans and vehicle loans. HDB Financial Services recorded a net well worth Rs 13.3 billion with the June quarter.

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