HDFC Bank promoted, HDB Financial Services Ltd, a diversified retail-focused non-banking financial company (NBFC) has filed Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO).
The Public Offer aggregating up to ₹12,500 crore comprises of a fresh issue of equity shares aggregating up to ₹2,500 crore and an offer for sale (OFS) aggregating up to ₹10,000 crore HDFC Bank Ltd the Promoter Selling Shareholder with face value of ₹10 each equity share.
The Public Offer Includes a reservation of Equity Shares for subscription by Eligible Employees and a reservation Equity Shares of Face Value of ₹10 each for subscription by eligible HDFC Bank shareholders.
HDB Financial Services Ltd proposes to utilise the net proceeds from the fresh issue towards augmenting the company’s Tier-I Capital base to meet the company’s future capital requirements including onward lending, arising out of the growth of the business.
HDB Financial Services offers a portfolio of lending products that cater to a diverse customer base through an omni-channel distribution network.
The lending products are offered through three business verticals: Enterprise Lending, Asset Finance and Consumer Finance.
The company is one of India’s largest and fastest-growing customer franchises, according to the CRISIL Report, and has served 17.5 million customers as of September 30, 2024, which grew at a CAGR of 28.22% between March 31, 2022 and September 30, 2024.
It primarily caters to underserved and underbanked customers in low to middle-income households with minimal or no credit history.
Published – October 31, 2024 06:18 pm IST