HDB Financial Likely To File For IPO Tomorrow

HDB Financial Services is likely to launch the red herring prospectus for an initial public offering as early as Friday, according to people in the know.

The IPO is likely to be launched on June 25. The company is looking to raise Rs 12,500 crore. The issue is set to include a fresh issue of Rs 2,500 crore and an offer for sale of Rs 10,000 crore.

HDFC Bank Ltd. is major shareholder at HDB Financial, with over 94% stake.

(This is a developing story).