HDB Financial Services IPO Day 1 Highlights: Biggest NBFC ₹12,500 cr issue of the year booked 37% on Day 1
HDB Financial Services IPO GMP Highlights: The ₹12,500 crore IPO of HDFC Bank’s subsidiary, HDB Financial Services, opened for public subscription today June 25, 2025. Concludes on June 27, 2025.
Anchor portion
HDB Financial Services, a subsidiary of HDFC Bank, has garnered ₹3,369 crore from anchor investors.
Price band, issue size
The price band is fixed at ₹700-₹740 per share. At the upper end of the price band, the company is valued at ₹61,400 crore.
The IPO is a combination of a fresh issue of equity shares worth Rs 2,500 crore and an Offer For Sale (OFS) of ₹10,000 crore by promoter HDFC Bank. At present, HDFC Bank holds a 94.36% stake in HDB
Financial Services, a non-banking financial company (NBFC) arm of the bank.
Book-running lead managers of the IPO
JM Financial, BNP Paribas, BofA Securities India, Goldman Sachs (India) Securities, HSBC Securities and Capital Markets (India) Pvt Ltd, IIFL Securities, Jefferies India, Morgan Stanley India Company, Motilal Oswal Investment Advisors, Nomura Financial Advisory and Securities (India) Pvt Ltd, Nuvama Wealth Management, and UBS Securities India are managing the company’s IPO.
Use of funds
The company proposes to utilise the proceeds from the fresh issue to strengthen its Tier-I capital base. This will support future capital needs, including additional lending, to support business growth.
After the proposed IPO, HDB Financial Services will continue to be a subsidiary of the bank.
Listing date
The shares are expected to debut on the BSE and NSE on July 2, 2025.
HDB Financial Services IPO Live: 6 key risks of business according to Bajaj Broking analysts is as follows:
❑ Asset Quality: High exposure to unsecured loans and MSMEs increases the risk of defaults, especially during economic stress.
❑ Geographic Concentration: Over 80% of branches are in semi-urban/rural areas, which may be more vulnerable to economic or monsoon-related disruptions.
❑ Liquidity & Interest Rate Risk: As an NBFC, HDB relies on borrowed funds. Tightening liquidity or rising interest rates could impact margins and loan growth.
❑ Regulatory Risk: RBI’s evolving norms for NBFCs could affect operations, compliance costs, and capital requirements.
❑ Competition: Intense competition from banks, fintechs, and other NBFCs may pressure yields and affect credit quality.
❑ Limited Transparency: Being unlisted, HDB provides less public disclosure than listed peers, limiting investor visibility
HDB Financial Services IPO Live: Booked 4% so far
HDB Financial Services IPO has been subscribed 0.04 times as at 10.18 am on June 25, its opening day.
The NII portion has been booked 0.07 times, retail 0.05 times, employee portion 0.29 times and reserved for shareholders 0.07 times. QIBs were NIL.
IPO listing live news today: Influx Healthtech debuts at 38% premium
Influx Healthtech stock traded flat on NSE Emerge at ₹132.20 as at 10.11 am after listing at ₹132.50, a premium of 38% against the issue price of ₹96.
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