Hdfc Bank (HDB) has released an update.

HDFC Bank has approved an Offer for Sale (OFS) of equity shares from its subsidiary, HDB Financial Services, as part of a proposed IPO expected to raise up to ?12,500 crore. The IPO will include both a fresh issue of shares and the OFS, with HDFC Bank maintaining HDBFS as a subsidiary post-IPO. The final pricing and details of the IPO will be announced at a later date, pending regulatory approvals and market conditions.

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