HDB Financial IPO, June 20 -- The Indian stock market is abuzz in anticipation of a mega Rs.12,500 crore initial public offer (IPO) of HDB Financial Services, a subsidiary of HDFC Bank.

HDB Financial, an upper-layer non-banking finance company (NBFC), will launch its IPO next week on June 25, wherein the promoter HDFC Bank is looking to offload a stake worth Rs.10,000 crore. The remaining Rs.2,500 crore will be raised via the fresh share sale.

HDB Financial IPO price band declared earlier today in the range of Rs.700-740 apiece, also promises strong returns from HDFC Bank. According to Mint's calculation, HDFC Bank stands to make a return of 1,495% considering the acquisition price of India's biggest private lender and the upper end of ...