HDFC Bank expects to start IPO process of HDB Financial Services in next few months, says CFO
The process of the initial public offering (IPO) of HDFC Bank’s non-banking arm, HDB Financial Services, may commence in the next few months, said the lender’s Chief Financial Officer Srinivasan Vaidyanathan.
“The listing requirement of the IPO is to be in September 2025 and we expect in the next few months to commence the activity around that so that we have as much flexibility as we can to be in the market at the right time,” said Srinivasan. He further said that the process of filing the required papers with Securities and Exchange Board of India (SEBI) and getting the approval will also be done.
As of December 31, 2023, the bank has a 94.7 percent stake in HDB Financial Services. For the October-December quarter of the financial year (FY) 2023-24, it reported a profit of Rs 640 crore compared to Rs 500 crore last year. The total loan book size of HDB Financial Services stood at Rs 84,000 crore, growing from Rs 65,100 crore in the corresponding quarter last year.
