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HDB Financial Services secures SEBI approval for ₹12,500 crore IPO

A fresh ₹2,500 crore issue is designed to bolster Tier-I capital with parent HDFC Bank selling ₹10,000 crore of its stake

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HDB Financial shares soar in unlisted market after Sebi's nod for its IPO

Overview

  • SEBI issued its observation letter on June 3 for an IPO combining a ₹2,500 crore fresh issue and a ₹10,000 crore offer for sale by HDFC Bank.
  • HDB Financial will deploy fresh issue proceeds to strengthen its Tier-I capital base in line with an RBI directive for large NBFC listings by September 2025.
  • HDFC Bank currently owns 94.36% of HDB Financial and will pare its holding through the offer for sale while retaining subsidiary control.
  • Unlisted shares of HDB Financial rallied over 30% in the month leading up to SEBI approval as pre-IPO demand surged.
  • The ₹12,500 crore issue ranks among India’s largest non-banking lender IPOs and adds to a broader ₹1.4 lakh crore pipeline of SEBI-cleared offerings.