HDFC Bank: A big IPO from HDFC, the largest bank in the private sector, is about to enter the market. HDFC Bank said on Saturday that the IPO of HDB Financial Services will be worth Rs 12,500 crore (1.5 billion dollars). HDFC Bank will sell its stake of Rs 10,000 crore in this. HDFC Bank currently has a 94.6 percent stake in HDB Financial Services.
HDFC Group Is Coming Up With An IPO After 6 Years
HDFC Bank said that information related to the IPO will be given after a few days. Just last month, HDFC Bank approved the IPO of HDB Financial Services. This IPO will also have a fresh issue of Rs 2,500 crore and an offer for sale of Rs 10,000 crore. This is an IPO coming from HDFC Group after 6 years. HDB Financial Services was established in 2007. This company provides secured and unsecured loans. It has about 1,680 branches across the country.
Listing Has To Be Done Due To New RBI Rules
HDFC Bank has to list HDB Financial Services due to new RBI rules. In 2022, RBI ordered all the country’s upper-level NBFCs to be listed on the stock market by September 2025. Due to this, many prominent NBFCs have to prepare for an IPO. These included giant companies like Tata Sons, but they have surrendered their NBFC license.
This Year 269 Companies Raised $12.57 Billion From The Market.
This year, there has been a boom in IPOs. So far, about 269 companies have launched their IPOs, raising $12.57 billion from the market. Last year, companies raised $7.42 billion from the market through IPOs. Bajaj Housing Finance of Bajaj Group has already been listed among the big companies. Also, Hyundai Motor India’s IPO of $3.3 billion is currently open.
