HDB Financial Services, the non-banking financial services arm of HDFC Bank, has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO) of ₹12,500 crore. Of this amount, HDFC Bank is selling shares worth ₹10,000 crore through an offer for sale (OFS), while the remaining ₹2,500 crore will be raised through a fresh issue by the lender.
The lender plans to use the proceeds from the IPO to enhance its Tier-I capital base and to address future capital needs, including those for onward lending.
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