HDB Financial Services was incorporated on June 4, 2007. They offer a wide range of lending products to a diverse customer base through an extensive omni-channel network. These products are provided across three business areas: Enterprise Lending, Asset Finance, and Consumer Finance
| Bidding Dates |
|---|
| 25 Jun 2025 - 27 Jun 2025 |
| Subscription |
|---|
| 16.69x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,000 | 1 | 13 | 20 | 168.9 M | ₹700 - ₹740 | 74.19 % | ₹118243.2 M - ₹125000.0 M | RHP DOC |
HDB Financial Services IPO SUBSCRIPTION STATUS
27 Jun '25HDB Financial Services IPO overall subscription rate was 16.69 times the total available shares
HDB Financial Services IPO retail subscription rate was 1.41 times in the retail segment
HDB Financial Services IPO non-institutional investor subscription rate was 9.99 times in the non-institutional investor category
HDB Financial Services IPO Qualified Institutional Bidder subscription rate was 55.47 times the available shares for Qualified Institutional Bidder
HDB Financial Services IPO Employees subscription rate was 5.72 times in the Employees category
HDB Financial Services IPO Reservation PortionShareholder subscription rate was 4.26 times in the Reservation PortionShareholder category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees | Reservation PortionShareholder |
|---|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - | - |
27 Jun 2025 (Day 3) | 1.41x | 9.99x | 55.47x | 5.72x | 4.26x |
26 Jun 2025 (Day 2) | 0.64x | 2.29x | 0.9x | 2.97x | 1.69x |
25 Jun 2025 (Day 1) | 0.3x | 0.76x | 0.01x | 1.77x | 0.7x |
HDB Financial Services FINANCIALS
| Period | Net Profit (Rs in crore) | Revenue from Operations (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) |
| FY25 | 2,175.9 | 13,835.8 | -13,626.3 | -13,834.3 |
| FY24 | 2,460.8 | 11,156.7 | -16,736.0 | -16,858.2 |
| FY23 | 1,959.4 | 8,927.8 | -6,850.6 | -6,960.4 |
HDB Financial Services IPO SUBSCRIPTION STATUS DETAILS
HDB Financial Services had 168.9 M shares on offer
HDB Financial Services IPO offer price was in the range ₹700 - ₹740
HDB Financial Services IPO minimum Investment was ₹14000
HDB Financial Services IPO issue size was ₹ 118243.2 M - ₹ 125000.0 M
HDB Financial Services had a minimum lot size of 20 Shares per application
HDB Financial Services NUMBER OF SHARES ON OFFER
HDB Financial Services IPO IMPORTANT DATES
| Issue Open Date | 25 Jun 2025 |
| Issue close Date | 27 Jun 2025 |
| Allotment Date | 30 Jun 2025 |
| Refund Date | 01 Jul 2025 |
| Demat Account Credit Date | 01 Jul 2025 |
| Listing Date | 02 Jul 2025 |
| Listing on Exchange(s) | NSE and BSE |
| HDB Financial Services Allotment Status | Exchange/ Registrar |
HDB Financial Services IPO subscription opened on 25 Jun 2025, and closed on 27 Jun 2025
IPO allotment for HDB Financial Services was finalized on Monday, 30 Jun 2025
IPO listing for HDB Financial Services was on NSE and BSE on Wednesday, 02 Jul 2025
HDB Financial Services IPO LISTING GAINS
| Issue Price (adjusted) | 740.0 |
| Listing Open Price | 835.0 |
| Listing Close Price | 841.0 |
| Listing Gain% | 12.8% |
| Current Gain% | -8.6% |
HDB Financial Services Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HDB Financial Services Ltd. | 676.4 | 56111.9 | 20.3 | 0.7 | 3 | 12.3 | 2 | 18429.7 | 13.1 | 2543.8 | 16.9 | 33.2 | 27.7 |
| Bajaj Finance Ltd. | 1102.2 | 686224.7 | 33.8 | 2 | 8 | 16.7 | 3.4 | 81989.5 | 17.6 | 19017.4 | 14.3 | 32.6 | 16.5 |
| Shriram Finance Ltd. | 1137.8 | 267718.5 | 23.7 | 1.4 | 5.4 | 15.2 | 3.1 | 48192.6 | 15.1 | 10024.2 | 4.9 | 48.1 | 16.8 |
| Jio Financial Services Ltd. | 254 | 167719.8 | 81.2 | 3 | 34.2 | 1.2 | 1 | 3542.6 | 70.4 | 1560.9 | -3.2 | 3.1 | 27.2 |
| Cholamandalam Investment & Finance Company Ltd. | 1920 | 161816.4 | 28.1 | 1 | 5 | 17.2 | 2.1 | 31538.7 | 20.6 | 5232.6 | 22.8 | 68.2 | 29.1 |
| Tata Capital Ltd. | 367.8 | 156147.5 | 28.9 | 1 | 4.8 | 10.8 | 1.7 | 31582.6 | 11.3 | 4846.1 | 32.2 | 12.7 | 28.9 |
HDB Financial Services INFORMATION ON IPO ISSUE
About HDB Financial Services
HDB Financial Services was incorporated on June 4, 2007. They offer a wide range of lending products to a diverse customer base through an extensive omni-channel network. These products are provided across three business areas: Enterprise Lending, Asset Finance, and Consumer Finance
Object of the Issue
- Gross proceeds of the fresh issue
- Augmentation of the company’s Tier – I capital base to meet the company’s future capital requirements including onward lending under any of the company’s business verticals i.e. Enterprise Lending, Asset Finance and Consumer Finance
- Company expects to receive the benefits of listing of the equity shares on the stock exchanges, including enhancement of company’s brand name and creation of a public market for its equity shares in India.
HDB Financial Services - PROMOTERS
| Name |
|---|
| HDFC Bank Limited |
HDB Financial Services Book Running Lead Manager
JM Financial Limited
hdbfs.ipo@jmfl.com
BNP Paribas
DL.HDBFS.IPO@bnpparibas.com
BofA Securities India Limited
dg.hdb_financial_services_ipo@bofa.com
Goldman Sachs (India) Securities Private Limited
hdbipo@gs.com
HSBC Securities and Capital Markets (India) Private Limited
hdbfsipo@hsbc.co.in
IIFL Securities Limited
hdbfs.ipo@iiflcap.com
Jefferies India Private Limited
HDB.FinancialServices.IPO@jefferies.com
Morgan Stanley India Company Private Limited
hdb_ipo@morganstanley.com
Motilal Oswal Investment Advisors Limited
hdb.ipo@motilaloswal.com
Nomura Financial Advisory and Securities (India) Private Limited
hdbfsipo@nomura.com
Nuvama Wealth Management Limited
hdbfs.ipo@nuvama.com
UBS Securities India Private Limited
ol-hdbfsipo@ubs.com
HDB Financial Services Registrar to the Offer
Link Intime India Private Limited
hdbfinancial.ipo@linkintime.co.in
HDB Financial Services Strengths
Diversified product portfolio
The company's product portfolio includes 13 lending products across three business areas: Enterprise Lending, Asset Finance, and Consumer Finance. The offerings vary by loan type, customer type, tenure, and interest rate
Pan-India distribution network
The company's physical sourcing network includes internal and external distribution channels, along with digital capabilities. It has a pan-India presence, with no region representing more than 35% of total gross loans as of September 30, 2024
Rrobust credit underwriting and strong collections
The company's credit risk management framework focuses on strong underwriting and collections, driving sustainable growth
HDB Financial Services Risks
Downturn in macroeconomic environment
The company is a retail-focused NBFC offering a diversified lending portfolio, with all operations, assets, and customers based in India. Its financial performance is closely tied to the condition of the Indian economy
Rely on trademark licence agreement
The company relies on a trademark license agreement with HDFC Bank to use its logo. Any termination of this license or damage to the HDFC Bank brand could significantly impact its brand, business, financial condition, and operations
Volatility in interest rates
Volatility in interest rates could lead to a decline in Net Interest Income and Net Interest Margins, negatively affecting the company's business, operations, cash flows, and financial condition
IPO FAQs
This IPO consists of an offer for sale of up to Rs 10,000.0 crore, of 135,135,135 shares. It also consists of a fresh issue of Rs 2,500.0 crore.
The promoter of the company is HDFC Bank Limited.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 700.0 - 740.0.
The IPO application opens on Jun 25, 2025 and closes on Jun 27, 2025.
The minimum lot size for the IPO is 20. The maximum lot size for the IPO is 260.
For all category investors, the minimum application amount for this IPO is Rs. 14,000.0, the maximum value for this IPO is Rs 192,400.0.
This IPO will be allotted on Jun 30, 2025.
The refund will be credited to your account on Jul 01, 2025.
The allotted shares will be credited to your demat on Jul 01, 2025.
HDB Financial Services Ltd.’s shares listed on the stock exchanges on Jul 02, 2025.