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  3. HDFC to sell up to Rs 10,000 crore shares in HDB Financial IPO

HDFC to sell up to Rs 10,000 crore shares in HDB Financial IPO

20 Oct 2024

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Key Takeaways

HDB Financial Services’ Rs 12,500 crore IPO meets RBI's listing rule while retaining HDFC Bank's majority control.

HDB Financial Services’ Rs 12,500 crore IPO meets RBI's listing rule while retaining HDFC Bank's majority control.

hdb

HDB Financial Services

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Expert Analysis

HDFC will offload shares worth Rs 10,000 crore in HDB Financial IPO.

Expert Analysis:

  • OFS Approval: HDFC Bank's board approved an Offer for Sale (OFS) worth up to Rs 10,000 crore in HDB Financial Services.

  • Total IPO Size: The total IPO size amount is Rs 12,500 crore, including a fresh issue of Rs 2,500 crore.

  • Regulatory Compliance: This IPO is in compliance with RBI's October 2022 mandate for upper-layer NBFCs to list within three years.

  • RBI Upper Layer Classification: As of September 2023, the RBI identified 15 upper-layer NBFCs, including Tata Capital and Piramal Capital.

  • HDFC Bank Stake: HDFC Bank holds a 94.64% stake in HDB Financial Services.

Publisher:Financial Express