HDFC Bank to consider IPOs for HDFC Sec, HDB Financial Services after merger
HDFC Bank will only consider IPOs of HDFC Securities, HDB Financial Services after merger with HDFC.
HDFC Bank will only consider a public listing of its brokerage and non-bank finance company subsidiaries after the completion of its merger with parent HDFC Ltd, CEO and managing director Sashidhar Jagdishan stated on July 16. The $40 billion merger between HDFC Bank and HDFC, billed as the largest deal in corporate history, was announced in April. It is expected to take up to 18 months to complete.