NEW DELHI: India’s top private lender HDFC Bank has said that its HDB Financial Services unit will raise up to 125 billion rupees (US$1.5bil) in its initial public offering (IPO).
Parent HDFC Bank, which holds a 94.6% stake in HDB Financial, will sell shares worth 100 billion rupees, the lender noted, adding that the price and other details of the proposed IPO will be determined in due course.
