India's HDB Financial Services, a unit of HDFC Bank, 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,

HDB Financial Services Ltd, a subsidiary of HDFC Bank, has received approval for an IPO. The IPO will comprise a fresh issue of shares worth ₹2,500 crore and an OFS.

Mumbai: Board of HDB Financial Services, a non-banking subsidiary of HDFC Bank, has approved an initial public offering with a fresh issue of equity shares of Rs 10 face value aggregating to

HDB Financial Services is planning an initial share sale comprising a fresh issue of equity shares aggregating up to ₹2,500 crore and an offer for sale by existing and eligible shareholders.

The lender has been approved to initiate an initial public offering (IPO) by the board of HDB Financial Services, a division of HDFC Bank. The Rs 2,500 crore HDB Financial IPO will comprise an offer-for-sale (OFS) component by current shareholders in addition to a new issue of equity shares.

HDB Financial Services, the business and personal loans unit of HDFC Bank will soon hit primary market to raise funds via an IPO. The IPO will comprise a fresh issue and offer for sale.

The board of HDB Financial Services Ltd, a non-banking finance subsidiary of HDFC Bank, today approved the initial public offering (IPO) of equity shares comprising a fresh issue of shares aggregating up to Rs 2,500 crore and an offer for sale (OFS) of equity shares.

HDB Financial Services, a non-banking subsidiary of HDFC Bank, has approved raising Rs 2,500 crore through a fresh issue of shares in its initial public offering (IPO).