HDFC Bank's subsidiary, HDB Financial Services (HDBFS), has fixed the price band for its Initial Public Offering (IPO) at ₹700 to ₹740 per equity share with a face value of ₹10.
The minimum bid lot for the IPO is set at 20 equity shares, with applications allowed in multiples of 20 thereafter.
HDFC Bank's Board of Directors has approved the transfer of the requisite number of equity shares of HDBFS, held by the bank, as part of the Offer for Sale in relation to the IPO.
These shares have been transferred to the escrow account opened by HDBFS.