Last Updated:June 26, 2025, 13:25 IST
The GMP of the HDB Financial Services IPO currently stands at 6.96%.
HDB Financial Services IPO: Check price band, GMP, and other details.
HDB Financial IPO Subscription Status, GMP Today: The HDB Financial Services IPO opened for public subscription on Wednesday, June 25. The issue will be concluded on Friday, June 27. The price band of the IPO has been fixed at Rs 700-740 per share. Till 1:19 pm on the second day of bidding on Thursday, the Rs 12,500-crore IPO received a 0.74 times subscription, garnering bids for 9,12,45,340 shares as against the 12,33,91,893 shares on offer.
The retail and NII participation stood at 0.55 times and 1.61 times, respectively. Its qualified institutional buyer (QIB) category got a 0.10 times subscription.
The public issue is the biggest IPO of 2025 so far, surpassing the Rs 8,750-crore issue by Hexaware Technologies earlier this year.
The IPO is a fresh issue of Rs 2,500 crore and an offer for sale (OFS) of Rs 10,000 crore by parent HDFC Bank, which holds 94.3 per cent stake.
Investors are keenly watching the grey market price of HDB Financial Services IPO, which reflects the demand for the issue before the launch.
HDB Financial IPO GMP Today
According to market observers, the GMP of the HDB Financial Services IPO is 6.96% today.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
HDB Financial IPO Shareholder Quota, Other Reservations
According to the red herring prospectus, 10% of the Rs 12,500-crore IPO will be reserved for shareholders.
As the HDB Financial Services IPO has a shareholders quota, investors must have at least one HDFC Bank share to be eligible for the shareholders category. It will raise their chances of IPO allotment. So, those who have shares of HDFC Bank can participate in the shareholders category in the IPO.
The cut-off date for eligibility in shareholder’s quota was June 19, 2025. It means the last day to buy HDFC Bank’s shares to be eligible for the HDB financial IPO’s shareholders quota was June 18.
Apart from this, nearly 31.44% of the IPO is reserved for retail investors, 44.92% for QIBs, 13.48% for NIIs, and 0.16% for employees.
HDB Financial IPO Allotment Date And Listing Date
The company’s IPO will remain open for public subscription next week — between June 25 and June 27. Anchor investors will be able to participate on June 24. Its allotment will take place on June 30, while shares will be listed on both BSE and NSE on July 2.
The IPO Objective
The IPO is primarily in response to the Reserve Bank of India’s 2022 regulation mandating all large NBFCs categorised as “upper layer” to be listed on the stock exchange by September 2025.
Should You Subscribe For HDB Financial IPO?
Bajaj Broking has recommended subscribe for long term for HDB Financial Services IPO.
Bajaj Broking said despite grey market indications of a higher value, the pricing appears aligned with peers like Bajaj Finance and Shriram Finance on a price-to-book basis.
“Valuation is supported by long-term structural tailwinds in NBFC lending, especially to underserved segments. However, near-term asset quality and margin pressures pose risks. Investors with a medium- to long-term outlook may find the issue attractive, provided the company sustains growth while improving operating efficiency and asset quality post-listing,” It added.
SBI Securities IPO report mentions, “HDB Financial Services Ltd (HDBFS) is categorized as an upper-layer NBFC by the Reserve Bank of India. It is the 4th largest diversified retail-focused NBFC (by Gross Loan Book size) as of Mar’25. It is a subsidiary of HDFC Bank, which is the largest private sector bank in India in terms of total assets as of Mar’25. The company’s Assets Under Management (AUM) stood at Rs 1,073 bn as of Mar’25.
HDBFS offers a diversified portfolio of products through its 3 business verticals. As of FY25, the share of Enterprise Lending stood at 39.3%, the share of Asset Finance stood at 38.0% and the share of Consumer Finance stood at 22.7% of the gross loan book. The company operates through an Omni-channel “phygital” distribution model that combines a large network of branches, in-house tele-calling teams and various external distribution and channel partners. As of Mar’25, it has a strong pan-India presence with a wide network of 1,771 branches across 31 States & UTs.”
Sharekhan IPO report mentions, “The company is valued at an FY25 price-to-book ratio of ~3.2x/~3.4x at post-issue capital at the lower price band & upper price band respectively, which is reasonable as compared to its peers considering the growth and return ratio profile. Strong parentage and much smaller in size as compared its core peer (Bajaj Finance) provides a long runway for growth. Additionally, favourable macro environment will act as tailwind for the sector in the near to medium term. We expect healthy listing gains and remain assertive from a medium to long-term perspective”.
About HDB Financial Services
Founded in 2007, HDB Financial Services provides a broad range of retail loans under three business verticals — enterprise lending, asset finance, and consumer finance. It focuses on both secured and unsecured loans, including personal loans and loans against property, particularly catering to underbanked segments.
As of September 30, 2024, the company had a gross loan book of Rs 98,620 crore, with a CAGR of 20.93% from March 2022. Its FY24 profit stood at Rs 2,460 crore, with a CAGR of 55.9% over FY22-FY24.
In its DRHP, the company noted that its loan book is highly diversified, with the top 20 customers contributing less than 0.36% of total gross loans. The average loan ticket size was around Rs 1.45 lakh as of September 30, 2024.
The company had initially filed its DRHP on October 30, 2023, and received SEBI’s approval at the end of May 2025.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to markets, economy and companies. Having a decade of experience in financial journalism, Haris has been previously asso…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to markets, economy and companies. Having a decade of experience in financial journalism, Haris has been previously asso… Read More
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