The lender has been approved to initiate an initial public offering (IPO) by the board of HDB Financial Services, a division of HDFC Bank. The Rs 2,500 crore HDB Financial IPO will comprise an offer-for-sale (OFS) component by current shareholders in addition to a new issue of equity shares.

HDB Financial Services Ltd, a subsidiary of HDFC Bank, has received approval for an IPO. The IPO will comprise a fresh issue of shares worth ₹2,500 crore and an OFS.

India's HDB Financial Services, a unit of HDFC Bank , has approved raising 25 billion rupees ($299 million) through a fresh issue of shares in its initial public offering (IPO), the lender said on Friday,

"We wish to inform you that the Board of Directors of the Company at its meeting held today has inter-alia, subject to the approval of the shareholders, considered and approved the IPO of the equity shares of face value Rs 10 each comprising of a fresh issue of equity shares aggregating up to Rs 2,

HDFC Bank has cleared a Rs 2,500 crore IPO for its subsidiary HDB Financial Services. The move follows RBI's mandate for upper-layer NBFCs to list.

The board of HDB Financial Services Ltd, a non-banking finance subsidiary of HDFC Bank, today approved the initial public offering (IPO) of equity shares comprising a fresh issue of shares aggregating up to Rs 2,500 crore and an offer for sale (OFS) of equity shares.