India’s HDB Financial clears IPO in first public float from HDFC Group in 6 years
Adds details from Indian IPOs in paragraphs 4-5, background in paragraphs 6-9
BENGALURU, Sept 20 (Reuters) -India's HDB Financial Services, a unit of HDFC Bank HDBK.NS, has approved raising 25 billion rupees ($299 million) through a fresh issue of shares in its initial public offering (IPO), the lender said on Friday, marking the group's first public float in six years.
Existing shareholders will also sell some stake in the IPO via an offer for sale, the firm said in an exchange filing, without specifying details.
HDB Financial's listing follows new norms introduced by the country's central bank in 2022 that required large non-banking financial companies (NBFC) to be listed on stock exchanges by September 2025.
Bajaj Housing Finance BAJO.NS went public earlier this month, driven by the requirement, and marked one of the best major listings in a red-hot Indian IPO market this year.
Around 235 companies have raised over $8.5 billion in IPOs so far in 2024, more than double the amount raised in the same period last year.
HDB Financial has also drawn interest from Mitsubishi UFJ Financial 8306.T, with the Economic Times reporting in April that the Japanese behemoth was poised to buy a 20% stake in the shadow lender.
However, the talks hit a wall after failure to agree on the deal terms, Nikkei said earlier this month.
Parent HDFC Bank holds a 94.6% stake in HDB Financial. Incorporated in 2007, the company provides secured and unsecured loans and has more than 1,680 branches across India.
For the quarter ended June, HDB Financial posted a 2.5% rise in consolidated net profit to 5.82 billion rupees. Its interest income rose nearly 27% to 32.65 billion rupees.
($1 = 83.5190 Indian rupees)
Reporting by Nishit Navin; Editing by Varun H K, Eileen Soreng and Janane Venkatraman
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
