HDB Financial Services Pre IPO

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HDB Financial Services is considering launching an IPO pending parental consent

HDB Financial Services Limited

Created at 14 Jun 2024 07:44

HDB Financial Services, HDFC Bank's non-banking financial subsidiary, is approaching a key milestone as it prepares for an Initial Public Offering (IPO) with a possible valuation of $9 billion to $12 billion. The IPO, which is subject to permission from its parent company HDFC Bank.

The move to go public is part of a broader strategy to unlock value within HDFC Bank’s diverse portfolio of financial services. With a robust network of 1,492 branches nationwide as of March 31, 2023, HDB Financial Services stands as one of the largest finance companies in terms of market capitalization. The company’s core focus areas include vehicle loans, loans against property, and personal loans, with secured loans constituting around 75.8% of the total portfolio.

HDB's IPO is highly urgent due to regulatory compliance; in order to comply with Reserve Bank of India standards, the company must list by September 2025. Over the past five years, HDB Financial Services has demonstrated a Compound Annual Growth Rate (CAGR) of 8.4%. As of the end of December, its asset under management (AUM) was at Rs 83,989 crore. The optimistic outlook is already evident in HDB shares, which have increased by more than 30% in the last three months on the unlisted market, pointing to bright prospects for the company's launch.

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