HDB Financial's IPO with ₹2,500 cr fresh issue gets HDFC Bank nod
HDFC Bank on Friday said its board gave in-principle approval to start the IPO process for its subsidiary HDB Financial Services. The IPO will comprise a fresh issue of shares worth up to ₹2,500 crore. It may also have an offer-for-sale component. HDFC Bank is reportedly seeking a valuation of ₹78,000-87,000 crore for HDB Financial in the IPO.