HDB Financial Services, along with five other companies, has received Sebi's approval for their IPOs. HDB Financial's ₹12,500-crore IPO includes a fresh issue and an offer for sale, aiming to boost its tier-I capital. As an upper-layer NBFC, HDB Financial must list by September 2025 per RBI rules. Vikram Solar, A-One Steels India, and others also got the green light.