HDB Financial Services gets Sebi approval for ₹12,500 crore IPO

HDB's IPO, the largest by an NBFC and fifth-largest overall, receives Sebi approval and is set to meet RBI's listing deadline for upper-layer NBFCs

HDB Financial Services, the non-banking finance (NBFC) arm of HDFC Bank, on Tuesday received approval from the Securities and Exchange Board of India (Sebi) to launch one of the largest initial public offerings (IPOs).

 

HDB’s IPO will be the largest NBFC IPO and the fifth-largest overall to hit the domestic markets.

 

The lender filed a draft red herring prospectus with the markets regulator in October 2024 for its IPO, which involved an offer for sale of ₹10,000 crore by HDFC Bank and a fresh issue of ₹2,500 crore.

 

HDFC Bank owns a 94.36 per cent stake in HDB Financial Services.