Non-banking financial companies (NBFCs) in India are accelerating their IPO plans, aiming to raise upwards of ₹30,000 crore amid a supportive regulatory climate, low interest rates, an improving credit cycle, and buoyant market sentiment with equity indices hitting nine-month highs . Among these, Axis Bank’s subsidiary, Axis Finance, is targeting a ₹3,000 crore IPO instead of relying on parent-bank capital infusion . Meanwhile, HDB Financial Services—the NBFC arm of HDFC Bank—is leading the pack with its ₹12,500 crore IPO (₹2,500 crore fresh issue + ₹10,000 crore OFS), reserved partially for HDFC shareholders, opening June 25–27, with tentative listing on July 2 . The rapid-fire IPO wave underscores how NBFCs are striving to strengthen capital bases and expand lending when valuations and investor interest are at favorable levels.

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