HDFC Bank's arm HDB Financial files papers for Rs 12,500 crore IPO

India's HDB Financial Services, a non-banking lending unit of HDFC Bank, files for an IPO worth Rs 12,500 crore, with HDFC Bank selling shares worth up to Rs 10,000 crore. The proceeds are earmarked for capital requirements including onward lending, fulfilling regulatory requirements for listing NBFCs by September 2025.