IPO Details:
HDB Financial Services, a subsidiary of HDFC Bank, launched a ₹12,500 crore IPO, which is the largest by an NBFC in India in 2025. It included a fresh issue of ₹2,500 crore and an offer for sale (OFS) of ₹10,000 crore. The price band was ₹700–₹740 per share, with a lot size of 20 shares.
Subscription:
The IPO was subscribed 16.69 times, receiving bids for over 217.66 crore shares against the 13.04 crore shares offered. Qualified Institutional Buyers (QIBs) subscribed 55.47 times, Non-Institutional Investors (NIIs) 10.55 times, and Retail Investors Portion 1.51 times.
Listing:
The shares listed on July 2, 2025, at ₹835 on both BSE and NSE, a 12.84% premium over the IPO price of ₹740, delivering strong returns to investors.
Grey Market Premium (GMP):
Before listing, the GMP was around ₹57–₹74, indicating an expected listing gain of 7–10%. On listing day, it aligned with the actual premium.Allotment: The share allotment was finalized on June 30, 2025. Investors can check their allotment status on the BSE, NSE, or the registrar’s website (Link Intime) using their PAN.Market Sentiment: Analysts are optimistic about HDB Financial Services due to its strong parentage, diversified loan portfolio, and robust distribution network. However, some retail investors were cautious due to valuation concerns and recent IPO fatigue.
