HDFC Bank is making plans an initial public imparting (IPO) of its non-financial institution lending unit, HDB Financial Services (HDB), and may increase Rs. 7000-8000 crore or greater.
HDB Financial Services has an AUM of Rs. 55,425 crore in FY19 (up 25% YoY) and posted FY19 Net earnings of Rs. 1,153 crore (up by 23.6% YoY) and offers products like non-public loans, CV loans, gold loans, and LAP e tc. HDFC Bank held 95.Fifty three% stake in HDB Financial Services.
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