HDB Financial, the non-banking financial company arm of HDFC Bank, has filed for a $1.5 billion IPO. HDFC Bank, which owns 94.6% of HDB, plans to sell shares worth up to Rs 10,000 crore, while HDB will issue fresh shares worth up to Rs 2,500 crore to meet capital requirements for lending. This marks the group's first public offering in six years, aligning with regulatory deadlines for listing larger NBFCs by September 2025.