Business Standard

HDFC picks Morgan Stanley, BofAML for HDB Financial Services IPO

HDFC Bank may hire more firms for the sale later, the people said

HDFC
Premium

Bloomberg
HDFC Bank, India’s biggest lender by market value, has picked Bank of America and Morgan Stanley to manage an initial public offering of its non-banking finance unit, people with knowledge of the matter said.
 
The bank plans to sell the shares in HDB Financial Services before March 31 in a deal that may raise about Rs 100 billion ($1.4 billion), the people said, asking not to be identified as the information is not public. HDFC Bank may hire more firms for the sale later, the people said. Selling shares in the unit will help the bank led by Managing
Topics : HDFC Bank

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 27 2019 | 12:16 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com