India's HDFC Bank-backed HDB Financial gears up for $299m IPO

India's HDFC Bank-backed HDB Financial gears up for $299m IPO

Photo: Bloomberg

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, marking the group‘s first public float in six years.