The initial public offering (IPO) of HDB Financial Services, a subsidiary of India’s largest lender, received a total subscription of 37 per cent on Wednesday (June 25), the first day of the bidding process.
Investors placed bids for 4,86,40,680 shares out of the 13,04,42,855 shares available, according to the BSE data.
The portion reserved for non-institutional investors saw a 76 per cent subscription or 1,83,65,840 shares against 2,40,64,286 shares, reserved for the category, while the retail investors have applied bid for 1,69,88,080 shares or 30 per cent against 5,61,50,000, allocated for the portionthe qualified institutional buyers (QIBs) portion fetched a subscription of 1 per cent or 3,32,980 shares against 3,20,85,713 shares.
Meanwhile, the employee segment fully booked with 1.77 times or 5,04,540 shares subscription against 2,85,714 shares.
Anchor investors
HDB Financial Services raised Rs 3,369 crore from anchor investors ahead of the IPO on Tuesday, June 24, 2025.
HDB Financial Services IPO Details
The total issue size of the public issue Rs 12,500 crore which make it largest IPO of the year so far and second largest in the last three years after Hyundai Motor India i.e. Rs 27,000-crore issue.
HDB Financial Services IPO: Price band
The company has fixed the price band between Rs 700 and Rs 740 per share. At the upper price band (Rs 740) limit of the IPO, the company is valued at around Rs 61,400 crore.
The IPO includes a fresh issue of shares worth Rs 2,500 crore and an offer for sale (OFS) of Rs 10,000 crore by the parent company, HDFC Bank, which currently holds a 94.36 per cent stake in HDB Financial Services. The employee category has recieved a bid for 3,98,680 shares or 1.40 times against 2,85,714 shares were offered.
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Where the proceeds from the issue will be utilized?
Funds raised from the fresh issue will be used to enhance the company’s Tier-I capital base, supporting future lending and business expansion.
HDB Financial Services IPO: BRLMs, registrar details
The IPO is being managed by JM Financial, BNP Paribas, BofA Securities India, Goldman Sachs India, HSBC, IIFL, Jefferies India, Morgan Stanley, Motilal Oswal, Nomura, Nuvama, and UBS.
HDB Financial Services IPO Listing Date
HDB Financial Services’ shares are expected to be listed on both the BSE and NSE on July 2.
