HDFC Bank Share Gains Board Approved HDB Financial Services IPO: The stock of HDFC Bank gave a return of 5% in the past five days compared to a return of 3% by Bank Nifty in the same period.

The IPO will include a fresh equity issuance of Rs 2,500 crore, alongside an offer-for-sale portion allowing existing shareholders to sell their stake

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,

The lender has been approved to initiate an initial public offering (IPO) by the board of HDB Financial Services, a division of HDFC Bank. The Rs 2,500 crore HDB Financial IPO will comprise an offer-for-sale (OFS) component by current shareholders in addition to a new issue of equity shares.