S&R Associates Advised On INR 125 billion IPO Of HDB Financial Services Limited

S&R Associates advised on INR 125 billion IPO of HDB Financial Services Limited

S&R Associates represented JM Financial, BNP Paribas, BofA Securities, Goldman Sachs, HSBC, IIFL Capital, Jefferies, Morgan Stanley, Motilal Oswal, Nomura, Nuvama, and UBS as the book running lead managers in the INR 125 billion initial public offering (IPO) of HDB Financial Services Limited, one of India’s leading, diversified, retail-focused non-banking financial companies (NBFCs).

The IPO marks a significant milestone as India’s largest IPO by an NBFC to date and also ranks as one of the most prominent public offerings of the year, reinforcing investor confidence in the financial services sector.

HDB Financial Services, promoted by HDFC Bank, offers a broad portfolio of lending products across various customer segments and operates through an extensive omnichannel network across India.

The S&R Associates team advising on the matter was led by Sandip Bhagat (Partner), Jabarati Chandra (Partner) and Jitesh Shahani (Partner), with support from Shwetank Sharma (Associate), Aarushi Kapoor (Associate), Anushka Rungta (Associate) and Aarush Sharma (Associate).

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