Mumbai: Board of HDB Financial Services, a non-banking subsidiary of HDFC Bank, has approved an initial public offering with a fresh issue of equity shares of Rs 10 face value aggregating to Rs 2500 crore and an offer for sale of equity shares by existing shareholders, HDFC Bank said in a filing to the stock exchanges.As per reports the total IPO size could go up to Rs 10,000 crore with HDFC Bank diluting up to 10 per cent stake. Last month on July 20, 2024, the Board of Directors of HDFC Bank had given an in-principle approval to initiate the process of listing of equity shares of HDB Financial Services through an IPO and seek necessary approvals from the regulatory authorities in this regard.HDB Financial Services is a non-banking financial company (NBFC) that caters to both individual & business clients.HDB Financial Services’ lines of business include – Lending and BPO Services.
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