HDB Financial Services Ltd (HDBFS), a subsidiary of India’s largest private-sector lender HDFC Bank, is gearing up for a market debut. The non-banking financial company (NBFC) plans to raise Rs 12,500 crore through its much-anticipated initial public offering (IPO),

Of the Rs 12,500 crore IPO, Rs 10,000 crore is the shares that HDFC Bank intends to sell. The board of directors have approved the IPO

HDB Financial Services Ltd., a unit of India’s largest private sector lender, HDFC Bank Ltd. plans to raise as much as 125 billion rupees ($1.5 billion) through an initial public offering, further adding to big debuts in the nation’s equity markets.