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  3. HDFC Bank unit HDB Finance OKs IPO including Rs 2,500-crore fresh issue…

HDFC Bank unit HDB Finance OKs IPO including Rs 2,500-crore fresh issue, offer for sale

20 Sept 2024

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Key Takeaways

HDB Financial Services' IPO could raise Rs 7,800-8,700 crore with the IPO expected by Dec 2024.

HDB Financial Services' IPO could raise Rs 7,800-8,700 crore with the IPO expected by Dec 2024.

hdb

HDB Financial Services

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Expert Analysis

HDB Financial Services Board Approves IPO Plan.

Expert Analysis:

  • IPO Announcement: HDB Financial Services Ltd plans an IPO with a fresh equity issue of up to Rs 2,500 crore and an offer for sale by existing shareholders.

  • IPO Timeline: The IPO is anticipated to hit the market by December 2024 or by the end of the financial year.

  • Valuation and Pricing: HDFC Bank is seeking a valuation of Rs 78,000-87,000 crore for HDB Financial Services, translating to an estimated price-to-book value of 4.5 to 5 times.

  • Stake Offload and Capital Adequacy: The IPO could result in HDFC Bank offloading 10-15% of its stake, potentially raising Rs 7,800-8,700 crore, bolstering its capital adequacy, which stood at 19.3% as of June 2024.

Publisher:money control