HDFC Bank’s arm HDB files for ₹12,500 crore IPO

October 31, 2024

written by

October 31, 2024 0 comment

Oct 31, 2024 02:41 PM IST

The HDB Financial Services IPO comprises a fresh issue of equity shares worth ₹2,500 crore and an offer for sale (OFS) of equity shares worth ₹10,000 crore

HDB Financial Services Limited has filed its draft red herring prospectus (DRHP) for a ₹12,500 crore Initial Public Offering (IPO), its parent company HDFC Bank Ltd announced in an exchange filing today on Thursday, October 31, 2024.

12,500 crore Initial Public Offering (IPO)” title=”HDB Financial Services Limited has filed its draft red herring prospectus (DRHP) for a ₹12,500 crore Initial Public Offering (IPO)”>

HDB Financial Services Limited has filed its draft red herring prospectus (DRHP) for a ₹12,500 crore Initial Public Offering (IPO)

Also Read: ‘Literally cried’: Blinkit user orders 1 gm gold coin, gets 0.5 gm, complaint window closes

The non-banking financial company (NBFC) IPO comprises of a fresh issue of equity shares worth up to ₹2,500 crore and an offer for sale (OFS) of equity shares worth ₹10,000 crore, according to the exchange filing.

This follows the Reserve Bank of India’s (RBI) mandate which requires ‘upper layer’ NBFCs to mandatorily go public and get listed on the stock exchanges.

As a result, Bajaj Housing Finance went public and got listed in September this year, emerging as a prominent example in India’s huge IPO market this year.

What does HDB Financial Services do?

HDB Financial Services, incorporated in 2007, provides lending and business process outsourcing (BPO) services to individuals and businesses.

Also Read: Google fined $2.5 decillion by Russian court, amount exceeds global GDP

The lending involves both secured and unsecured loans and the BPO services include back office services like forms processing, document verification, finance and accounting services, and correspondence management, along with front office services like contact center management, outbound marketing and collection services, according to its official website.

It currently has more than 1,747 branches spread across 27 states & 4 union territories and is CARE AAA & CRISIL AAA rated for its long-term debt and bank facilities and A1+ rated for its short-term debt & commercial papers.

How did HDFC Bank’s shares perform?

HDFC Bank Ltd shares were trading at ₹1,729 on the Bombay Stock Exchange as at 2:40 pm IST today on Thursday, October 31, 2024. This was a drop of 0.35% or 6 points.

The announcement through the exchange filing came at 9:22 am on the same day.

Also Read: Elcid Investments, India’s costliest stock went from ₹3 to ₹2,36,250: Here’s how

Stay updated with the…

Copyright 2024 - All Rights Reserved - Janashakti.News

The HDB Financial Services IPO comprises a fresh issue of equity shares worth ₹2,500 crore and an offer for sale (OFS) of equity shares worth ₹10,000 crore

What does HDB Financial Services do?

How did HDFC Bank’s shares perform?

About Us

Mani Shankar Aiyar on Trump’s victory: A man of ‘doubtful character’ leading the US

Recent Articles

Featured

Copyright 2024 - All Rights Reserved - Janashakti.News

HDFC Bank’s arm HDB files for ₹12,500 crore IPO

The HDB Financial Services IPO comprises a fresh issue of equity shares worth ₹2,500 crore and an offer for sale (OFS) of equity shares worth ₹10,000 crore

What does HDB Financial Services do?

How did HDFC Bank’s shares perform?

Spanish rescue teams hunt for missing after deadly floods

7 major changes from Nov 1: Money transfer, credit cards, FDs, LPG prices

You may also like

Leave a Comment Cancel Reply

About Us

Recent Articles

Featured