The HDFC Bank HDB IPO Date is going to be announced; according to reports, HDB Financial will launch the IPO in the last quarter of this calendar year or the first quarter of next year.
Investors in stock markets often eagerly await IPOs as they can yield good returns upon listing. Last year’s IPOs have already provided profitable opportunities to investors, and now HDFC Bank, the largest private sector bank, is reportedly planning an IPO for its subsidiary non-banking financial company HDB Financial Services.
This HDB IPO is highly anticipated by investors and is expected to be the biggest IPO of the year, with an estimated valuation of $9-12 billion. Notably, this will be the first IPO from the HDFC Group after the merger of HDFC Bank and HDFC, which may increase investor demand.
HDFC Bank has already initiated the IPO process by inviting bids from leading investment banks to estimate the valuation. HDB Financial Services does not accept deposits and is a non-deposit taking lender. HDFC, which owns 95% of HDB Financial Company, plans to sell 10% of the total value for its IPO, making the issue size around Rs. 7,500 crore to Rs. 10,000 crore.
After listing, HDB Financial Services will become one of the largest listed companies by market value with 1,492 branches. For the financial year ending March 31, 2023, the company reported a net income of Rs. 12,403 crores and a net profit of Rs. 1,959 crores. Currently, Bajaj Finance is the largest NBFC in terms of market capitalization, with a total of Rs. 3.96 lakh crore MCap.
