HDFC Bank's board has given its approval for HDB Financial Services, its financial services unit, to go public through an initial public offering (IPO). The IPO will include a fresh equity sale of Rs 2,500 crore, as well as an offer-for-sale component, allowing existing shareholders to sell their shares.
HDB Financial Services is a leading non-banking financial company (NBFC) that offers a wide range of financial products and services to retail and commercial customers. The company specializes in secured and unsecured lending, asset finance, consumer loans, and loan against property. With its strong presence across India, HDB Financial Services has become a trusted financial partner for individuals, small businesses, and enterprises.
The company has reported a 17% year-on-year growth in its loan book for FY23, reaching Rs 66,000 crore. This growth was driven by robust demand for personal loans, vehicle loans, and small business financing. Meanwhile, the company's net profit for FY23 stood at Rs 1,740 crore.
With its strong financial performance and wide range of financial services, HDB Financial Services is set to attract investors with its upcoming IPO.
Download the TradeKaizen app to practice F&O trading with real-time market data anytime, anywhere.
Get it on Google PlayConnect with fellow traders, share strategies, and improve your trading skills in our Telegram group.
Join Telegram