India's largest private lender, HDFC Bank, has obtained preliminary approval to list its subsidiary, HDB Financial Services Limited (HDBFS), in an initial public offering (IPO). The IPO is estimated to be worth between $9 billion and $12 billion.
At its board meeting on July 20, 2024, India's largest private lender HDFC Bank gave in-principle approval to commence the process of listing its subsidiary HDB Financial Services Limited (HDBFS) through an initial public offering (IPO). The Board has assigned authority to a committee of directors to carry out different processes for the IPO, including obtaining regulatory permission.
According to an Economic Times story, HDB Financial's IPO is expected to be valued between $9 billion and $12 billion (Rs 75,000 crore to Rs 1 lakh crore).