HDFC BANK SUBSIDIARY IPO: DECKS CLEARED - CHECK COMPANY NAME

HDFC Bank Subsidiary IPO: India's largest private lender HDFC Bank in its board meeting held on July 20, 2024 has given in-principle approval to begin the process of listing its subsidiary HDB Financial Services Limited (HDBFS) through an initial public offering (IPO). The Board has delegated the powers to a committee of directors to undertake various steps for IPO including necessary approvals from the regulatory authority.

According to an Economic Times report, HDB Financial is likely to be valued in the range of $9 billion to $12 billion (Rs 75,000 crore- Rs 1 lakh crore) for the IPO.

HDB Financial Services is a Non-Banking Financial Company (NBFC) that serves both individual and business clients. It was incorporated in 2007 and offers a wide range of secured and unsecured loans to its customers.

Shares of HDFC Bank dropped 0.85% on Wednesday, July 24, against the day's opening price of Rs 1615.75 per share.

HDFC Bank boasts a market cap of Rs 12.20 lakh crore as per BSE analytics. The bank is a constituent of BSE Sensex. The stock has a face value of Rs 1 each.

100% equity sale in HDFC Edu

HDFC Bank in its board meeting July 20 to undertake the sale of 100% stake in HDFC Edu using the Swiss challenge process and has entered into a binding term sheet with an interested party (the Binding Termsheet).

HDFC Bank Q1 result FY2024-25

HDFC Bank reported that its revenue from operations for the quarter ended June 30, 2024 stood at Rs 73,033 crore. The company's net profit for the first quarter of this fiscal year remained at Rs 16,174 crore. The Earnings Per Share (EPS) stood at RS 85.83 per share.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)

2024-07-24T10:14:42Z