HDFC Financial institution subsidiary HDB Monetary Providers Ltd has obtained regulatory approval from the Securities and Change Board of India (Sebi) for its much-anticipated Rs 12,500 crore preliminary public providing (IPO). The regulator additionally permitted the IPOs of 5 different corporations. The six IPOs collectively are slated to boost over Rs 20,000 crore.
HDB Monetary had earlier filed its draft purple herring prospectus (DRHP), aiming to boost Rs 2,500 crore via a contemporary challenge and Rs 10,000 crore through supply on the market (OFS) by dad or mum firm HDFC Financial institution. This makes it one of many largest IPOs by a non-banking entity within the Indian capital market.
HDB Monetary Providers possession
HDFC Financial institution holds 94.36 per cent stake in HDB Monetary Providers, a non-banking monetary firm (NBFC). The corporate proposes to utilise the proceeds from the contemporary challenge to strengthen its Tier-I capital base. This can help future capital wants, together with further lending, to help enterprise progress.
Integrated in 2007, HDB Monetary Providers gives secured and unsecured loans and has greater than 1,680 branches throughout India. It closed the June quarter with a web price of about Rs 13,300 crore. The choice to checklist HDB Monetary Providers follows the Reserve Financial institution of India (RBI)’s mandate in October 2022, requiring NBFCs within the higher layer to checklist on the inventory exchanges.
Sebi nod to five extra IPOs
Aside from HDB Monetary, 5 extra corporations have obtained Sebi’s go forward to boost funds via IPOs. These embody Vikram Photo voltaic, A-One Steels India, Shanti Gold Worldwide, Dorf-Ketal Chemical compounds, and Shreeji Transport World Ltd.
These six companies, which filed their preliminary IPO papers with the markets regulator between October 2024 and January 25, 2025, obtained their observations throughout Might 27-30, the Sebi replace confirmed.
Vikram Photo voltaic’s IPO is a mixture of contemporary challenge of shares as much as Rs 1,500 crore and an OFS of as much as 17.45 million shares by promoter and promoter group promoting shareholders.
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Mumbai-based Dorf-Ketal Chemical compounds India has proposed to boost Rs 5,000 crore through IPO, which will likely be a mixture of contemporary challenge of shares price Rs 1,500 crore, and an OFS of Rs 3,500 crore price shares by Menon Household Holdings, the promoter. It had filed draft purple herring prospectus for its IPO on January 23 this yr.