on Aug 06, 2021)Mumbai: HDFC Bank has decided to shelve IPO plans of its subsidiary HDB Financial Services. The NBFC arm will focus on further improving its technology platform. The bank will consider testing the market for price discovery through a small stake sale.
Last year, Aditya Puri, the bank’s founding and then MD & CEO had indicated that an IPO of the HDB was on the agenda. However, under the leadership of Puri’s successor Sashidhar Jagdishan, there is a rethink on going public for now.
In a recent analyst call, CFO Srinivasan Vaidyanathan had said several international and domestic investors had shown interest in the growth plans of the company and added that the bank may test the market in terms of price discovery. “We do need to see Covid behind and the growth momentum starting to pick up, then we’ll have an evaluation,” said Srinivasan.
