HDFC Bank sells HDB Financial Services shares in IPO
HDFC Bank [BSE:HDFCBANK] announced the sale of 135,135,135 equity shares of HDB Financial Services Limited (HDBFS) through an initial public offering (IPO), reducing HDFC Bank's stake to 74.19%. The IPO, priced at INR 740 per share, generated a gross consideration of approximately INR 99,999,999,900 for HDFC Bank. After deducting offer expenses, HDFC Bank received a net consideration of INR 98,145,163,982 in cash. HDBFS, an upper layer Non-Banking Financial Company, received regulatory approvals from the Securities and Exchange Board of India and the Reserve Bank of India for the IPO. The offering closed on June 27, 2025, with shares allotted on June 30, 2025 and listed on July 2, 2025. Despite the sale, HDFC Bank confirms that HDBFS remains a subsidiary.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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