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HDFC Bank arm HDB Financial gets SEBI approval for IPO

VCCircle

VCCircle · 2m ago

HDFC Bank arm HDB Financial gets SEBI approval for IPO

HDFC Bank’s subsidiary, HDB Financial Services, has secured approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). This marks HDFC group's first market entry in seven years. HDFC Bank, owning a 94.3% stake, plans to sell shares worth up to 100 billion rupees, alongside issuing fresh shares valued at 25 billion rupees. This step aligns with regulations necessitating large non-banking financial companies to list by September 2025.

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HDB Financial Services files draft papers with Sebi for Rs 12,500-cr IPO

YourStory

YourStory · 10m ago

HDB Financial Services files draft papers with Sebi for Rs 12,500-cr IPO

HDB Financial Services, a subsidiary of HDFC Bank, has filed papers with SEBI to raise Rs 12,500 crore through an IPO. The proposed IPO includes a fresh issue of equity shares worth Rs 2,500 crore and an offer-for-sale of Rs 10,000 crore by HDFC Bank. The funds raised will be used to strengthen its capital base and support future lending needs. The decision to list follows RBI's mandate for NBFCs to list within three years. HDB Financial Services will remain a subsidiary of HDFC Bank after the IPO. A dozen book-running lead managers have been appointed for the IPO.

HDB Financial IPO in the works as HDFC sets stage to list NBFC arm

Livemint

Livemint · 1y ago

HDB Financial IPO in the works as HDFC sets stage to list NBFC arm

India's HDFC Bank is reportedly planning the long-awaited IPO of its subsidiary HDB Financial Services. The IPO could value HDB Financial between $9 billion and $12 billion and HDFC Bank is considering divesting a 10% stake in the offering. HDFC Bank may also conduct a pre-IPO share placement with investors. The IPO is expected to take place in late 2024 or early 2025 and marks a significant listing from the merged HDFC Bank and HDFC group. HDB Financial Services operates 1,492 branches across India and focuses on vehicle loans, loans against property, and personal loans.

HDFC Bank restarts talks with Mitsubishi UFJ for HDB Financial stake sale ahead of IPO: Report | Company Business News

Livemint

Livemint · 8m ago

HDFC Bank restarts talks with Mitsubishi UFJ for HDB Financial stake sale ahead of IPO: Report | Company Business News

HDFC Bank is reportedly in discussions with Mitsubishi UFJ Financial Group (MUFG) for a stake sale in its subsidiary HDB Financial before its planned initial public offering (IPO). Talks between the two companies began earlier in the year but fell through due to conflicting valuations. HDFC Bank is said to be more flexible this time in negotiating valuations. The discussions aim to address RBI regulations that require banks to reduce their stake in subsidiaries within two years. HDFC Bank currently holds a 94.36% stake in HDB Financial.

Big-ticket IPOs ahead: NSDL, HDB Financial, and other marquee firms set for market debuts soon

Economic Times

Economic Times · 2m ago

Big-ticket IPOs ahead: NSDL, HDB Financial, and other marquee firms set for market debuts soon

India's IPO market is witnessing renewed activity, with over 30 companies, including several SMEs, accessing public markets recently. More than 67 companies, aiming to raise over Rs 1 lakh crore, are awaiting SEBI approval, with anticipated listings from NSDL, Hero FinCorp, and HDB Financial Services. NSDL's IPO is expected in July to raise around $400 million. SEBI has approved IPOs for Vikram Solar and HDB Financial Services, with prominent launches expected imminently.

HDFC Bank unit HDB Financial to raise up to $1.5 bn in IPO

VCCircle

VCCircle · 10m ago

HDFC Bank unit HDB Financial to raise up to $1.5 bn in IPO

HDFC Bank's subsidiary, HDB Financial Services, is planning to raise up to $1.5 billion in its initial public offering (IPO). HDFC Bank will sell shares worth $1.3 billion in the IPO. The details of the offering will be determined later. HDB Financial Services provides secured and unsecured loans and has over 1,680 branches in India. The IPO follows new regulations that require large non-banking financial companies to be listed on stock exchanges by September 2025. This year, India has seen a surge in IPO activity, with over $12.57 billion raised so far.

HDB Financial Services' Rs 12,500-crore IPO to open on June 25

Economic Times

Economic Times · 2m ago

HDB Financial Services' Rs 12,500-crore IPO to open on June 25

HDB Financial Services, a subsidiary of HDFC Bank, is launching a ₹12,500 crore IPO on June 25, priced between ₹700-740 per share. The IPO includes a fresh issue of ₹2,500 crore worth of shares and an ₹10,000 crore share offer for sale by HDFC Bank. This IPO, India’s largest by a non-banking finance company (NBFC), will close on June 27, following anchor investors' bidding on June 24.

HDFC Bank unit HDB Financial Services to raise $299 mn via IPO

VCCircle

VCCircle · 11m ago

HDFC Bank unit HDB Financial Services to raise $299 mn via IPO

HDB Financial Services, a unit of India's HDFC Bank, has announced plans to raise $299 million through an initial public offering (IPO), according to an exchange filing. In addition to the fresh issue of shares, existing shareholders will also sell some stake in the IPO. HDB Financial's listing follows regulations introduced by India's central bank in 2022, requiring large non-banking financial companies to be listed on stock exchanges by September 2025. The company provides secured and unsecured loans and has a network of over 1,680 branches in India.

Grapevine: Unacademy, CRED, OYO, NSE and HDB Financial in news

VCCircle

VCCircle · 3m ago

Grapevine: Unacademy, CRED, OYO, NSE and HDB Financial in news

Key developments in the business world include Unacademy's co-founder reportedly stepping down, CRED raising new capital, and OYO reviving its IPO plans. HDB Financial is close to obtaining regulatory approval for a substantial listing. Additionally, NSE shares have gained amid a potential settlement with SEBI.

Bets on unlisted shares may backfire, as this company’s example proved

Livemint

Livemint · 2m ago

Bets on unlisted shares may backfire, as this company’s example proved

The valuation of HDB Financial Services, a subsidiary of HDFC Bank, was sharply lower in its IPO compared to its previous unlisted market value, impacting retail investor interest in pre-IPO shares. Investors who anticipated gains faced losses as the shares, initially valued privately at ₹1,100-1,200, were offered in the IPO at a reduced price band of ₹700-740. This situation highlights the risks involved in betting on unlisted shares for premium gains.

Warburg, Kedaara-backed Avanse Financial gets SEBI approval for IPO

VCCircle

VCCircle · 10m ago

Warburg, Kedaara-backed Avanse Financial gets SEBI approval for IPO

Avanse Financial Services, an education loan provider backed by private equity firms Warburg Pincus and Kedaara Capital, has received approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). The company aims to raise Rs 1,000 crore through a fresh issue of shares, along with an offer for sale of Rs 2,500 crore. The proposed IPO would value Avanse at at least $1.2 billion. NTPC Green Energy, a subsidiary of state-run power producer NTPC Ltd, also received SEBI approval for its planned Rs 10,000 crore IPO.

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