India's top private lender HDFC Bank said on Saturday its HDB Financial Services unit will raise up to 125 billion rupees ($1.5 billion) in its initial public offering (IPO).Parent HDFC Bank, which holds a 94.

HDFC Bank's board has approved a Rs 12,500 crore IPO for its subsidiary, HDB Financial Services, featuring a mix of fresh issues and offers for sale. The IPO includes Rs 10,000 crore in offer for sale and Rs 2,

HDB Financial Services Ltd., a unit of India’s largest private sector lender, HDFC Bank Ltd. plans to raise as much as 125 billion rupees ($1.5 billion) through an initial public offering, further adding to big debuts in the nation’s equity markets.

The parent firm HDFC Bank, which holds a 94.6 per cent in HDB Financial Services Ltd, will sell shares worth ₹10,000-crore via an offer-for-sale as part of the IPO.

Parent HDFC Bank holds a 94.6% stake in HDB Financial Services, which will raise up to ₹12,500 crore via its IPO.

HDFC Bank, the parent company of HDB Financial Services Ltd, plans to sell shares valued at Rs 10,000 crore through an offer-for-sale (OFS) as part of the upcoming initial public offering (IPO). Currently,

HDB Financial Services, a subsidiary of HDFC Bank will go for a ₹12,500 crore IPO amid RBI mandate for ‘upper layer’ NBFCs to get listed

The public debut of HDB Financial Services is expected by the end of the current financial year. Post-IPO, HDB Financial Services will remain a subsidiary of HDFC Bank, complying with relevant regulations.

HDB Financial Services is coming with an IPO to comply with the Reserve Bank of India's mandate in October 2022, requiring NBFCs in the upper layer to list on the stock exchanges.