HDB Financial Services, a subsidiary of HDFC Bank, is planning to raise about Rs 2,500 crore of debt capital to support business growth. The subordinated debt is to the tune of Rs 2,000 crore while perpetual debt is nearly Rs 500 crore. After witnessing asset quality pressures in the aftermath of the Covid-19 pandemic, the finance company has improved its risk profile and health to support sustained growth in loan book.
The unit of HDFC Bank is one of the larger players in the retail financing space. Its asset under management (AUM) rose to Rs 83,989 crore as of December 31, 2023, from Rs 70,084 crore as of March 31, 2023 and Rs 61,444 crore as of March 31, 2022.
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