HDB Financial IPO Details
The HDB Financial IPO is a book build issue with a total issue size of ₹12500 cr, comprising of fresh issue of 33783784 equity shares., and a offer for sale of 135135135 equity shares. HDB Financial IPO opened for subscription on Jun 25, 2025 and closed on Jun 27, 2025. HDB Financial IPO is set price band at ₹700 to ₹740 per share, with a lot size of 20 shares. Minimum investment for Retail investors was ₹14,800.00 (at the upper price band) to apply for one lot.
The basis of allotment got finalized on Jun 30, 2025, and listed on both the NSE and BSE on Jul 02, 2025.
MUFG Intime India Private Limited has been appointed as the registrar. IIFL Capital Services Limited, Bofa Securities India Limited, Goldman Sachs (India) Securities Private Limited, Morgan Stanley India Company Private Limited, Motilal Oswal Investment Advisors Pvt Ltd, Jefferies India Private Limited, JM Financial Limited, Nomura Financial Advisory And Securities (India) Pvt Ltd, Hsbc Securities & Capital Markets Pvt Ltd, Bnp Paribas, Nuvama Wealth Management Limited and UBS Securities India Private Limited are the Book Running Lead Manager for the issue.
Before investing in the HDB Financial IPO, investors should review the company's financial performance, business objectives, and risk factors mentioned in the offer documents and apply before the subscription window closes.
- Price Band
- ₹ 700 – 740
- Lot Size
- 20
- Issue Size
- ₹12500 Cr
- Minimum Investment
- ₹14800 (20 Shares)
- Listing Date
- 02 July 2025
Current GMP
₹75 (+10.14%)
*Info is indicative. Not an Investment Advice. Grey market trading is unregulated.
About HDB Financial Services Limited
HDB Financial Services Limited, a subsidiary of HDFC Bank, is a prominent retail-focused Non-Banking Financial Company (NBFC) in India, classified as an Upper Layer NBFC by the Reserve Bank of India (RBI). As of September 30, 2024, the company reported total gross loans of ₹98,620 crore, achieving a compound annual growth rate (CAGR) of 20.93% since March 2022. Its Assets Under Management (AUM) stood at ₹90,230 crore as of March 31, 2024, with a CAGR of 21.18% over the same period.
For FY24, HDB Financial Services posted a Profit After Tax (PAT) of ₹2,460 crore, reflecting a robust CAGR of 55.98% since FY22. The company reported strong profitability metrics, with Return on Average Assets (RoAA) at 3.03% and Return on Average Equity (RoAE) at 19.55%.
With a vast physical presence through 1,772 branches across 1,162 towns, HDB has built a strong customer base of 17.5 million, growing at a CAGR of 28.22%. Its well-diversified loan portfolio comprises Enterprise Lending (39.85%), Asset Finance (37.36%), and Consumer Finance (22.79%), with secured loans accounting for 71.08% of the total loan book. The company maintains strong asset quality, with a Gross Non-Performing Assets (GNPA) ratio of 2.10% and a Net NPA (NNPA) ratio of 0.83%.
HDB enjoys AAA/stable credit ratings from CRISIL and CARE and operates with a competitive average borrowing cost of 7.53%. As of September 30, 2024, its Capital to Risk (Weighted) Assets Ratio (CRAR) stood at 19.30%, reflecting sound capital adequacy.
Founded in 2007, HDB Financial Services offers lending products through three key verticals: Enterprise Lending, Asset Finance, and Consumer Finance. Additionally, the company provides business process outsourcing (BPO) services—including back-office support, collections, and sales support—primarily to its promoter, HDFC Bank. It also distributes fee-based products like insurance to its lending customers.
HDB follows a robust “phygital” distribution model, combining its expansive branch network, in-house tele-calling teams, and external channel partners. As of September 30, 2024, over 80% of its branches are located outside India's top 20 cities, ensuring deep regional penetration. Its distribution capabilities are further enhanced by partnerships with over 80 brands and OEMs, and a wide network of more than 1,40,000 retailers and dealer touchpoints across the country.
HDB Financial IPO Promoters
- HDFC Bank Limited
Promoters Holding
Holding Pre Issue
94.04%
Holding Post Issue
74.35%
HDB Financial IPO Objective
The details of the proceeds from the Fresh Issue are summarized in the following:
- Augmentation of the Company’s Tier – I Capital base to meet the Company’s future capital requirements including onward lending.
Address / Contact Info
HDB Financial Services Limited
Radhika, 2nd Floor, Law Garden Road
Navrangpura
Ahmedabad, Gujarat, 380009
Phone: +91 22 4911 6350
Email: investorcommunications@hdbfs.com
Website: http://hdbfs.com/
IPO Snapshot
Book Running Lead Managers
- IIFL Capital Services Limited
- Bofa Securities India Limited
- Goldman Sachs (India) Securities Private Limited
- Morgan Stanley India Company Private Limited
- Motilal Oswal Investment Advisors Pvt Ltd
- Jefferies India Private Limited
- JM Financial Limited
- Nomura Financial Advisory And Securities (India) Pvt Ltd
- Hsbc Securities & Capital Markets Pvt Ltd
- Bnp Paribas
- Nuvama Wealth Management Limited
- UBS Securities India Private Limited
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
HDB Financial IPO is a Book-building IPO with a total issue size of ₹12500 crore. The HDB Financial IPO price band is ₹700 to 740 per share. The HDB Financial IPO subscription opens on Wed, Jun 25, 2025, and closes on Fri, Jun 27, 2025. The HDB Financial IPO will be listed on the BSE,NSE. MUFG Intime India Private Limited is the registrar for the HDB Financial IPO.
The HDB Financial IPO opens on Wed, Jun 25, 2025 and closes on Fri, Jun 27, 2025
HDB Financial IPO Price Band is ₹700 to 740 per share.
HDB Financial IPO lot size is 20 shares, Retail investors need a minimum investment of ₹14800 based on the upper price band
The minimum investment for HDB Financial IPO is ₹14800, based on one lot of 20 shares at the upper price band of ₹740 per share.
Investors can apply for the HDB Financial IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Fri, Jun 27, 2025. The application amount remains blocked until the HDB Financial IPO allotment is finalized.
HDB Financial IPO issue size is ₹12500 crores.
HDB Financial IPO allotment date is Wed, Jul 1, 2026.
The registrar for HDB Financial IPO is MUFG Intime India Private Limited. Investors can go to MUFG Intime India Private Limited website to check HDB Financial IPO allotment status, refund processing, and other IPO-related information.
The HDB Financial IPO GMP (Grey Market Premium) is ₹75 as of Wed, Jul 2, 2025. Based on the upper price band of ₹740 per share, the estimated HDB Financial IPO listing price is ₹815, indicating a potential listing gain of approximately 0% over the issue price.