Indian non-bank lender HDB Financial files for $1.5 bln IPO
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 31 2024
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Source: Reuters
HDB Financial Services IPO Filing: HDB Financial Services, a subsidiary of HDFC Bank, has filed for an initial public offering (IPO) worth up to 125 billion rupees ($1.49 billion), with HDFC Bank planning to sell shares worth up to 100 billion rupees and HDB issuing fresh shares worth up to 25 billion rupees.
Financial Performance and Regulatory Compliance: The company reported a profit increase of nearly 56% in the fiscal year 2023-24, but its net interest margin declined to 7.85%. The IPO is part of HDFC Bank's strategy to comply with regulatory requirements for non-banking financial companies by September 2025.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
