HDB Financial Services Ltd, the NBFC arm of HDFC Bank, is preparing to launch its ₹12,500 crore initial public offering (IPO) by mid-July 2025, according to sources quoted by Moneycontrol. This IPO is expected to be the largest of the year, surpassing the ₹8,750 crore public issue of Hexaware Technologies in February.
The company is currently working on its Updated Draft Red Herring Prospectus (UDRHP), which will be submitted to SEBI before the end of June. This document is necessary before filing the final Red Herring Prospectus (RHP), the last step before launching the IPO. The offer may be launched in early to mid-July, depending on market conditions.
The IPO is being driven by a 2022 RBI mandate that requires large NBFCs classified as “upper layer” to list by September 2025. HDB had filed its original DRHP on October 30, 2024, and received SEBI’s approval by the end of May 2025.
HDB Financial Services was founded in 2007 and offers secured and unsecured loans under three verticals – enterprise lending, consumer finance and asset finance. The company has a strong presence in underbanked customer segments.
As of September 30, 2024 HDB’s gross loan book is ₹98,620 crore, up 20.93% from March 2022. In FY24 it reported a net profit of ₹2,460 crore, up 55.9% from FY22 to FY24.
The NBFC also said that its 20 largest customers account for less than 0.36% of its total gross loans. Average loan ticket size is around ₹1.45 lakh as of September 30, 2024.
This IPO is being watched closely by investors as it’s a sign of revival in Indian primary markets.
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Source: Moneycontrol
News Desk
