HDFC Bank's arm HDB Financial Services files with SEBI for Rs 12,500 crore IPO
HDB Financial Services Ltd., a non banking financial company affiliated with HDFC Bank has submitted a preliminary prospectus to SEBI for an upcoming Initial Public Offering (IPO).
The public offering may reach a maximum of Rs 12 500 crore. Comprises an equity shares issuance valued at up to Rs 2 500 crore and an offer, for sale (OSF). HDFC Bank Ltd will be the promoting selling shareholder for, up to Rs 10 000 crore.
The shares of equity are valued at Rs 10, per share in the offering. Also include a set aside of shares for eligible employees to subscribe to as well as reserved shares, for qualifying HDFC Bank shareholders.
HDB Financial Services Ltd plans to use the funds raised from the offering to strengthen the companys Tier I Capital base, for capital needs related to lending and business growth.
HDB Financial Services provides a range of loan products tailored to meet the needs of a range of customers using channels, for distribution across different platforms.The loan products are available, through three business sectors. Business Loans, Asset Financing and Consumer Financing.
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