HDB Financial Services IPO: HDFC Bank is preparing to launch the Initial Public Offering i.e. IPO of its subsidiary HDB Financial Services. This information has been given in a media report. HDFC Bank has invited leading investment banks to bid for the proposed IPO and estimate the valuation.
According to the report, HDFC Bank may launch IPO in the last quarter of this year or the first quarter of 2025. If this IPO comes in 2024, it could be one of the biggest initial public offerings of the year. This will be the first public offering of HDFC after the merger of HDFC Bank and HDFC.
The bank can raise ₹7,500 to ₹10,000 crore through IPO
HDFC, which holds about 95 percent stake in HDB Financial, can sell 10 percent stake through IPO. Through this the bank can raise ₹7,500 crore to ₹10,000 crore. Along with this, the bank can also consider pre-IPO share placement with investors.
At present the market value of HDB Financial Services is $ 7.9 billion i.e. about Rs 65,690 crore. The price of its unlisted shares is Rs 830. After listing, the company will be one of the largest listed finance companies in terms of market cap.
HDB Financial to list before September 2025
The bank was required to launch the IPO of HDB as the company would have to be listed before September 2025 to comply with Reserve Bank of India norms. The RBI had ordered in September 2023 that NBFCs identified as part of the 'upper tier' will have to be listed on stock exchanges within two years.
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