HDB Financial Services IPO: In a major development for Indian equity markets, HDB Financial Services, a prominent NBFC subsidiary of HDFC Bank, is gearing up for its much-awaited ₹12,500 crore IPO this week. The grey market premium (GMP) for the issueis hovering around ₹70 — signaling strong investor interest and a potential bumper listing.
Let’s break down all the key details, market sentiments, and what investors should watch for.
HDB Financial Services IPO GMP Today Signals Strong Demand
As of today, HDB Financial Services IPO’s grey market premium stands at ₹70, which implies that the stock is trading around ₹810 in the unofficial market, against the IPO’s upper price band of ₹740.
This robust premium reflects the bullish sentiment building around the IPO, considered the largest issue of 2025 so far. Investors seem confident about the company’s fundamentals and the HDFC brand’s backing.
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HDB Financial Services IPO GMP Snapshot:
| Particulars | Value |
|---|---|
| Grey Market Premium (GMP) | ₹70 |
| Upper Price Band | ₹740 |
| Estimated Listing Price (GMP + Price Band) | ₹810 |
| Retail Lot Size | 20 shares |
| Minimum Investment (at Cut-off) | ₹14,800 |
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IPO Dates, Issue Structure, and Pricing Details
HDB Financial Services IPO is structured as a combination of fresh issue and offer for sale (OFS). The company aims to raise ₹2,500 crore via fresh equity and ₹10,000 crore through OFS — primarily by parent HDFC Bank, which currently holds a 94.6% stake.
Key IPO Dates and Details:
| Event | Date/Detail |
|---|---|
| IPO Open | June 25, 2025 |
| IPO Close | June 27, 2025 |
| Anchor Bidding | June 24, 2025 |
| Price Band | ₹700 – ₹740 per share |
| Lot Size | 20 shares |
| Allotment Finalisation (Tentative) | June 30, 2025 |
| Listing Date (Tentative) | July 2, 2025 (BSE & NSE) |
| Registrar | Link Intime India Pvt Ltd |
| Lead Managers | JM Financial, Goldman Sachs, Morgan Stanley, UBS & others |
Company Profile and Sector Insights
HDB Financial Services Ltd is one of India’s leading NBFCs, offering a wide range of secured and unsecured loans to retail and commercial clients. The company operates across over 1,500 branches and has grown rapidly under the HDFC ecosystem.
The NBFC sector has seen a strong recovery post-COVID, with rising credit demand from MSMEs and individuals. HDB’s wide branch network, digital lending capabilities, and parentage give it an edge over smaller peers.
Peer Comparison Snapshot
| Company | FY24 Revenue (₹ Cr) | Net Profit (₹ Cr) | ROE (%) | P/BV Ratio |
|---|---|---|---|---|
| HDB Financial | 14,300 (est.) | 1,800 (est.) | 12.5 | ~3.2x |
| Bajaj Finance | 45,151 | 12,259 | 23.0 | 7.8x |
| Shriram Finance | 38,700 | 5,200 | 18.4 | 1.6x |
Market Sentiment and Analyst Commentary
Many market experts believe HDB Financial Services IPO will be a strong wealth creation opportunity, thanks to its HDFC lineage, wide reach, and prudent asset quality.
Anchor investor response on June 24 will be crucial in setting the tone for public bidding.
Analysts also believe the premium valuation of 3–3.5x book value is reasonable, given the expected growth trajectory and strong governance.
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What to Expect Post-Listing?
Given the positive grey market momentum and a solid brand, listing gains are likely, provided broader market sentiment remains stable.
Short-term investors may benefit from premium listing, while long-term holders may look at HDB as a proxy for India’s expanding credit cycle — particularly in Tier 2 and Tier 3 cities.
Watch for:
-
Anchor investor bids on June 24
-
Subscription trends on Day 1 and Day 3
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Final allotment status on June 30
-
Post-listing movement vis-à-vis Bajaj Finance and Shriram Finance
Conclusion: Should You Subscribe?
HDB Financial Services IPO checks all the right boxes — credible promoter group, expanding footprint, healthy financials, and strong investor buzz in the grey market.
The ₹70 GMP signals a likely positive listing, and the issue may see heavy oversubscription across retail, HNI, and QIB categories.
If you’re a retail investor seeking a blend of brand trust and NBFC sector exposure, this IPO deserves serious consideration.
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Disclaimer: The views and investment insights provided here are based on publicly available information and do not constitute financial advice. Readers are advised to conduct their own research or consult certified financial experts before making investment decisions.
