HDB Financial Services, a part of HDFC Bank, is generating a lot of buzz as its IPO approaches next week. The IPO price is set between ₹700 to ₹740 per equity share, offering an attractive 40% discount compared to its current unlisted market price.
Here are the key details of the HDB Financial Services IPO:
- IPO Open Date: June 25, 2025
- IPO Close Date: June 27, 2025
- Allotment Finalization: June 30, 2025
- Refunds/Share Credit to Demat: July 1, 2025
- Listing Date (BSE/NSE): July 2, 2025
- Total Issue Size: ₹12,500 crore (168,918,919 shares)
- Fresh Issue: ₹2,500 crore (33,783,784 equity shares)
- Offer for Sale (OFS): ₹10,000 crore (135,135,135 equity shares) by HDFC Bank, its promoter.
Currently, HDB Financial Services boasts a Total Loan Portfolio of ₹1.06 lakh crore. In FY25, the business reported impressive revenues of ₹16,300.28 crore and profits of ₹2,175.92 crore.
HDB Financial Services is Operational in 31 States and UTs with 1771 branches. CARE and CRISIL Ratings were given AAA/stable rating for Long-term Debt and Bank Facilities. CARE and CRISIL also assigned an A+ rating to Commercial Papers.
The spotlight is mainly on the IPO price band. Before the announcement, shares were trading in the unlisted market at around ₹ 1,200–₹ 1,350 each, which is 70–80% higher than the upper limit of the IPO price at ₹740. The Grey Market Premium (GMP) for this IPO has varied recently.
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A few days ago, the GMP was reported between ₹83-₹90, but has since dropped to around ₹43.5 – ₹49 per share. This points to a potential listing price of approximately ₹783.5 – ₹789, reflecting a premium of about 5.88% – 6.62% over the upper issue price of ₹740, which is lower than previous forecasts.
The HDB Financial IPO is Getting a Mixed Response. The HDB Financial IPO is subscribed 1.21X on Day 2. The public issue subscribed 0.69X in the retail category, 0.91X in the QIB category, and the NII Category got 2.43X Subscription.
Anuj Prajapati