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HDB May Seek RBI Nod for Extension of IPO Deadline

May 14, 2025

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Business Standard

HDB Financial Services, the non-banking financial arm of HDFC Bank, is likely to request an extension from the Reserve Bank of India (RBI) for its September 2025 deadline to go public, according to people familiar with the matter.

- KHUSHBOO TIWARI

HDB May Seek RBI Nod for Extension of IPO Deadline

As an upper-layer NBFC, HDB Financial is required to list on stock exchanges by September according to RBI guidelines.

The company filed its draft red herring prospectus (DRHP) in November 2024 for a ₹12,500 crore initial public offering (IPO), which remains pending with the Securities and Exchange Board of India (Sebi).

According to sources, the delay stems from unresolved compliance issues, including potential breaches of norms related to share issuances by unlisted companies.

These hurdles could prevent HDB from meeting the current September deadline.

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