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HDFC Bank s NBFC arm holds IPO plans; to raise over Rs 8,600 crore via debt The board of HDB Financial Services met in April to clear the decks for raising over Rs 8,600 crore by way of non-convertible debentures (NCDs) in various tranches in 2021-22 Anand Adhikari | May 25, 2021 | Updated 20:28 IST HDB Financial Services Limited, a non-banking finance company promoted by the HDFC Bank, has lined up plans to raise over Rs 8,600 crore by way of debentures. There have been speculations about HDB floating an initial public offering (IPO), but the company is likely to wait for the current disruptive period to pass as there are business challenges. ....