The lender plans to use the proceeds from the IPO to enhance its Tier-I capital base and meet future capital requirements, including those for onward lending
HDFC Bank, which holds a 94.6 per cent stake in the lender, will sell shares worth up to Rs 10,000 crore, while HDB Financial will issue fresh shares worth up to Rs 2,500 crore
Last month HDFC Bank approved raising Rs 2,500 crore through an issue of shares in the IPO, marking the group's first public float in six years
Fresh equity offering upto Rs 2,500 cr plus offer for sale
HDB Financial's listing follows the country's central bank norms introduced in 2022, which required large non-banking financial companies (NBFC) to be listed on stock exchanges by September 2025
HDB Financial Services Ltd. is in talks with a group of global and local banks to finalise the terms
Both sides are looking to reach an agreement for a 20% stake in HDB Financial Services in about a month, the report said, citing people familiar with the matter
The move marks the latest in a string of acquisitions by Japan's top banks in India
After witnessing asset quality pressures in the aftermath of the pandemic, the finance company has improved its risk profile and health to support sustained growth in the loan book
In terms of the framework, once an NBFC is classified as NBFC-UL, it shall be subject to enhanced regulatory requirement, at least for a period of five years
LIC Housing raises Rs 941 cr against indicative Rs 1,500 cr
The debt market experienced a notable decline in issuances during July as issuers chose to take a back seat in response to the escalating cost of borrowing
However, credit growth remains flat
Asset quality takes hit with NPAs surging to 7.75%
The finance company has seen business growing at a good pace over the past few years
HDBFS has a network of over 1,425 branches in 1,038 towns and cities
HDB Finance, an NBFC in the retail financing space, has seen its overall loan portfolio grow by 22 per cent to Rs 56,287 crore as on June 30 from Rs 45,889 crore a year ago
The proposed IFC debt facility will enable HDB to expand its individual micro & small business loan portfolio in the low-income states (LIS) of India