Why did HDFC Bank reject a $2B deal with Japan's MUFG? Find out what's next for its subsidiary.
HDFC Bank cancels MUFG's $2B bid for a 20% stake in HDB Financial Services, opting for an IPO instead.
HDB Financial Services is set for an IPO in late 2024 or early 2025, in compliance with RBI regulations.
Japan's MUFG loses out on India's largest FDI in financial services, despite strong backing from Japan.
HDB Financial's AUM reached ₹83,989 crore in Dec 2023, driven by 42% YoY disbursement growth and improved NIM.
HDFC Bank faces pressure on margins post-merger with HDFC Ltd, deciding to reject MUFG’s offer pivotal.