HDB Financial Services IPO : HDFC Bank's company HDB Financial Services is going to launch its IPO soon. The company said in a filing that it will raise ₹ 2,500 crore through fresh equity. This IPO will also have an offer-for-sale component. The company has informed us that the face value of the shares will be ₹ 10. Apart from this, no information has been shared about the IPO.

The company's board of directors approved the IPO of shares in a meeting held on September 20. The IPO will consist of the sale of new shares worth ₹2500 crore and the sale of shares by existing and eligible shareholders.

HDB Financial Services Q1FY25 earnings

HDB Financial Services reported consolidated revenue from operations for the quarter ended June 30, 2024, for FY25 stood at ₹3883 crore, up from ₹3386 crore in Q1FY23. The company's net profit for Q1FY25 stood at ₹518 crore, up from ₹567 crore in Q1FY24.

What does HDB do?

HDB Financial Services is a leading non-banking financial company (NBFC) that offers a wide range of financial products and services across the country. HDB offers a wide range of secured and unsecured loans with the help of its 1680 branches spread across 27 states and 4 union territories. It also offers BPO services, which include back office services such as form processing, document verification, finance and accounting services, and correspondence management.