Under the IPO, fresh equity sale of Rs. 2,500 crore, taking the total issue size to Rs. 12,500 crore will be taken around. Earlier, HDFC Bank’s board had approved the takeover of HDB Financial.
The price and other details of the proposed IPO, which is the group’s first in six years, will be decided in due course.
HDB Financial’s listing follows new norms introduced by the country’s central bank in 2022 that required large non-banking financial companies (NBFCs) to be listed on stock exchanges by September 2025.
The proceeds from the IPO are likely to be used to expand its loan book and enhance digital infrastructure.
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HDB Financial Services is a leading non-banking financial company (NBFC), catering primarily to the retail and commercial segments, offering a wide range of financial products and services.
It specializes in secured and unsecured credit, asset finance, consumer loans and loans against property. HDBFS has established itself as a trusted financial partner for individuals, small businesses and enterprises across India.
NBFCs reported 17% year-on-year growth in their loan book for FY23 at Rs. 66,000 crore was recorded. The growth was driven by strong demand for personal loans, vehicle loans and small business loans. Meanwhile, the company’s net profit for FY23 stood at Rs. 1,740 crores.
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