HDB Financial Services, an arm of HDFC Bank, is ready to hold its first public offering (IPO) to raise Rs. 2,500 crore by selling fresh shares. Along with the new equity of shares, the offering for sale of equity shares by qualifying and existing shareholders of the company will be a part of the issue.
At its meeting on September 20, the Company’s Board of Directors approved the company’s initial public offering of equity shares with a face value of Rs 10. The offering includes both an offer by the company’s existing and eligible shareholders to sell their equity shares, as well as new equity shares with a total value of up to Rs 2500 crore.
HDB Financial Services (HDBFS) is a Non-Banking Financial Company (NBFC) that offers business process outsourcing (BPO) and loan services. It provides a wide range of secured and unsecured loans to its customers through the help of 1680 branches spread across 27 States and 4 Union territories. It provides BPO services in addition to back office tasks such form processing, document verification, finance, accounting, and correspondence management.
HDFC Bank’s stock value On Friday, September 20, shares of HDFC Bank, the biggest private lender in India, closed at Rs 1742.15 a share on the BSE, up 2%. The share started trading at Rs 1715.25 per share and went as high as Rs 1745 and as low as Rs 1707.55. A 52-week range for the stock shows a high of Rs 1719.90 and a low of Rs 1363.45. One of BSE Sensex’s constituents is HDFC Bank. According to BSE statistics, the company is valued at Rs 13.28 lakh crore on the market.