India's SEBI has approved HDB Financial Services' IPO, the first public offering from the HDFC group in seven years. The IPO valued up to $1.5 billion is driven by regulatory requirements for large NBFCs to list by 2025.

• HDFC Bank will primarily sell existing shares.
• IPO size: up to ₹125 billion ($1.5B).
• HDB Financial reported ₹5.3B profit (Q1 '24).