HDB Financial Services Limited is one of the leading, diversified retail-focused non-banking financial companies (NBFCs) in India in terms of Total Gross Loan Book Size. The Company is categorized as an Upper Layer NBFC (NBFC-UL) by the RBI. It provides lending services and business process outsourcing services. It also provides services related to the marketing and promotion of various financial products.
The Company was incorporated dated June 4, 2007 issued by the Registrar of Companies, Gujarat, Dadra and Nagar Haveli at Ahmedabad. The Company began its journey in 2007 as a subsidiary of HDFC Bank Limited. In 2008, the Company opened its first branch in Chennai, Tamil Nadu. It introduced commercial vehicle loan and loans against gold in in 2010. The branch network increased to 100 across India in 2011; it launched auto loans; introduced commercial equipment loans in 2012. The branch network increased to 500 in 2015 and to 1000 in 2016.
In 2016, it launched consumer durables loans in Tamil Nadu. In 2017, it introduced tractor finance loans in the states of Punjab, Haryana, Rajasthan, Uttar Pradesh, Madhya Pradesh, Gujarat and Maharashtra. Further, it launched digital product loans. In 2018, it introduced two wheeler loans, introduced micro finance loans in 2020; launched lifestyle finance loans in 2021; the branch network increased to 1500 across India in 2023.
The lending products are offered through three business verticals: Enterprise Lending, Asset Finance and Consumer Finance. Apart from these, if provide business process outsourcing services such as back-office support services, collection and sales support services to Promoters as well as fee-based products such as distribution of insurance products primarily to their lending customers.
The Company is planning to come out with an Initial Public Offer by raising funds aggregating the Offer Size upto Rs 12500 Crore Equity Shares of Face Value of Rs 10/- each, consisting Rs 2500 Crore Equity Shares through Fresh Issue and Rs 10000 Crore Equity Shares through Offer for Sale.