The Securities and Exchange Board of India’s approval is set to be made public in the coming weeks, the people Said, Asking Not to be named Discussing A Private Matter. The company is making plans to kick off the process of engaging with Prospective Investors Next Month, One of the people said.
Sebi didn’t respond to an email seeking comment and a call to HDB Financial Went Unanswered.
The approval would clear the way for the unit of HDFC Bank Ltd., The Country’s Biggest Private Sector Lender, to Finally Proceded with a Deal that May Fetch Clearance. It would test the Indian iPo Market’s Ability to Revive Some of the Spark Seen Last Year, when it was one of the world’s business places for new lists.
Larget iPo by Shadow Bank
At $ 1.5 billion, it would be the country’s largest IPO ever for a shadow bank and the biggest one amn all sector Since Hyundai Motor India Ltd. South Korea’s Lg Electronics Inc. was planning to take its Indian Unit Public This Year But It Paused Work on It Amid the Market Turmoil triggered by India’s Slowing Economic Growth and Us Tariffs.
HDB Financial’s Listing is Expected to Be Followed by even bigger ones. Tata Capital Ltd. Submitted preliminary documents with India’s markets regulator last month to Raise as much as $ 2 billion.