Home/article/HDB filed DRHP with SEBI for Rs 12,500 Cr IPO

HDB filed DRHP with SEBI for Rs 12,500 Cr IPO

Written by: Diksha Kalra

Published: Sep 16, 2026

Updated: Sep 16, 2026

3 min read

HDB Financial Services is one of the leading, diversified retail-focused non-banking financial companies (“NBFCs”) in India in terms of Total Gross Loan book size. It has filed preliminary papers with the capital market regulator SEBI to raise Rs 12,500 Cr through an Initial Public Offering (IPO).
The proposed IPO includes a fresh issue of equity shares worth Rs 2,500 Cr and an offer for sale (OFS) of Rs 10,000 Cr by HDFC Bank Ltd.
The funds raised from the Fresh Issue will be used for the following purposes:
- Augmentation of Tier I Capital: A significant portion of the net proceeds will be allocated to enhance the company’s Tier I Capital base. This increase is intended to support the company’s future capital requirements, particularly for lending and business expansion, while ensuring compliance with the capital adequacy norms established by the Reserve Bank of India (RBI).
- Offer Expenses: Some of the proceeds will be used to cover expenses associated with the offering, including fees for listing, audits, and marketing related to the public offering.
Their lending products are offered through three business verticals: Enterprise Lending, Asset Finance, and Consumer Finance. As of September 30, 2024, their Total Gross Loans reached Rs 986.2 billion, demonstrating a compound annual growth rate (CAGR) of 20.93% from March 31, 2022, to September 30, 2024. Our assets under management were Rs 902.3 billion as of March 31, 2024, showcasing a CAGR of 21.18% from FY22 to FY24.
In FY24, they generated a profit after tax of Rs 24.6 billion, which marked a CAGR of 55.98% from FY22 to FY24. The growth in their Total Gross Loans, combined with their operational efficiencies and strong asset quality, enabled them to achieve a Return on Average Assets of 3.03% and a Return on Average Equity of 19.55% for FY24.

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