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HDB Financial IPO is a book build issue of ₹12,500.00 crores. The issue is a combination of fresh issue of 3.38 crore shares aggregating to ₹2,500.00 crores and offer for sale of 13.51 crore shares aggregating to ₹10,000.00 crores.
HDB Financial IPO bidding started from Jun 25, 2025 and ended on Jun 27, 2025. The allotment for HDB Financial IPO was finalized on Jun 30, 2025. The shares got listed on BSE, NSE on Jul 2, 2025.
HDB Financial IPO price band is set at ₹740.00 per share . The lot size for an application is 20. The minimum amount of investment required by an retail is ₹14,000 (20 shares). The lot size investment for sNII is 14 lots (280 shares), amounting to ₹2,07,200, and for bNII, it is 68 lots (1,360 shares), amounting to ₹10,06,400.
BNP Paribas is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to HDB Financial IPO RHP for detailed Information.
| IPO Date | June 25, 2025 to June 27, 2025 |
| Listing Date | July 2, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹700 to ₹740 per share |
| Issue Price Final | ₹740 per share |
| Lot Size | 20 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 16,89,18,917 shares (aggregating up to ₹12,500.00 Cr) |
| Fresh Issue | 3,37,83,782 shares (aggregating up to ₹2,500.00 Cr) |
| Offer for Sale | 13,51,35,135 shares of ₹10 (aggregating up to ₹10,000.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 79,39,63,540 shares |
| Share Holding Post Issue | 82,77,47,322 shares |
HDB Financial IPO offers total 16,89,18,917 shares. Out of which 7,58,78,377 (44.92%) allocated to QIB, 3,03,51,351 (17.97%) allocated to QIB, 2,27,63,514 (13.48%) allocated to NII, 5,31,14,865 (31.44%) allocated to RII and 4,55,27,026 (26.95%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 7,58,78,377 (44.92%) | NA |
| − Anchor Investor Shares Offered | 4,55,27,026 (26.95%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 3,03,51,351 (17.97%) | NA |
| NII (HNI) Shares Offered | 2,27,63,514 (13.48%) | NA |
| − bNII > ₹10L | 1,51,75,676 (8.98%) | 54,198 |
| − sNII < ₹10L | 75,87,838 (4.49%) | 27,099 |
| Retail Shares Offered | 5,31,14,865 (31.44%) | 26,55,743 |
| Employee Shares Offered | 2,70,270 (0.16%) | NA |
| Shareholders Shares Offered | 1,68,91,891 (10.00%) | NA |
| Total Shares Offered | 16,89,18,917 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only shareholder | Up to Rs 2 Lakhs | Allowed only if bidding amount is upto Rs 2 lakhs |
| Only employee | Up to Up to Rs 5 Lakhs | Yes |
| Employee + Shareholder |
|
Yes |
| Employee + Shareholder + RII/NII |
|
Yes for shareholder/employee/RII |
| Shareholder + RII/NII |
|
Yes for shareholder/RII |
| Employee + RII/NII |
|
Yes for shareholder/RII |
Note: To be eligible for the Shareholder Quota, you must hold shares in one of the following companies:
HDB Financial IPO raises ₹3,369.00 crore from anchor investors. HDB Financial IPO Anchor bid date is June 24, 2025. HDB Financial IPO Anchor Investors list
| Bid Date | June 24, 2025 |
| Shares Offered | 4,55,27,026 |
| Anchor Portion Size (In Cr.) | 3,369.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | July 29, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | September 27, 2025 |
HDB Financial IPO opens on June 25, 2025, and closes on June 27, 2025.
| IPO Open Date | Wed, Jun 25, 2025 |
| IPO Close Date | Fri, Jun 27, 2025 |
| Tentative Allotment | Mon, Jun 30, 2025 |
| Initiation of Refunds | Tue, Jul 1, 2025 |
| Credit of Shares to Demat | Tue, Jul 1, 2025 |
| Tentative Listing Date | Wed, Jul 2, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Jun 27, 2025 |
Investors can bid for a minimum of 20 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 20 | ₹14,800 |
| Retail (Max) | 13 | 260 | ₹1,92,400 |
| S-HNI (Min) | 14 | 280 | ₹2,07,200 |
| S-HNI (Max) | 67 | 1,340 | ₹9,91,600 |
| B-HNI (Min) | 68 | 1,360 | ₹10,06,400 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 2007, HDB Financial Services Limited is a retail-focused, non-banking financial company.
The company also offer business process outsourcing (“BPO”) services such as back-office support services, collection and sales support services to our Promoter as well as fee-based products such as distribution of insurance products primarily to the lending customers.
HDB Financial Services Limited's omni-channel “phygital” distribution model combines a large branch network, in-house tele-calling teams and various external distribution networks and channel partners.
Business Verticals:
As of March 31, 2025, with over 80% of the branches located outside the 20 largest cities in India.As at March 31, 2025, The company had a pan-India network of 1,771 branches in 1,170 towns and cities across 31 States and Union Territories, with over 80% of the branches located outside the 20 largest cities in India by population.
As at Fiscals 2025, 2024 and 2023, the company had a total of 60,432, 56,560 and 45,883 employees.
Competitive Strengths:
HDB Financial Services Limited's revenue increased by 15% and profit after tax (PAT) dropped by 12% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 1,08,663.29 | 92,556.51 | 70,050.39 |
| Total Income | 16,300.28 | 14,171.12 | 12,402.88 |
| Profit After Tax | 2,175.92 | 2,460.84 | 1,959.35 |
| EBITDA | 9,512.37 | 8,314.13 | 6,251.16 |
| Net Worth | 14,936.50 | 12,802.76 | 10,436.09 |
| Reserves and Surplus | 15,023.97 | 12,949.63 | 10,645.57 |
| Total Borrowing | 87,397.77 | 74,330.67 | 54,865.31 |
| Amount in ₹ Crore | |||
The market capitalization of HDB Financial IPO is ₹61253.30 Cr.
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
|---|---|
| ROE | 14.72% |
| Debt/Equity | 5.85 |
| Price to Book Value | 3.72 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 27.41 | 26.29 |
| P/E (x) | 27 | 28.15 |
The Company HDB Financial IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Augmentation of the Company’s Tier – I Capital base to meet their 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. | 2,458.62 |
[Dilip Davda] HFSL belongs to HDFC group and is the seventh largest leading and diversified NBFC. It posted steady growth in its total revenues for reported periods. It marked set-back in its bottom lines for FY25 following volatility in interest rates. Based on its recent financial data, the issue appears fully priced. Considering rewards from HDFC groups earlier two primary offerings, investors may park funds for short to long term. Read detail review...
| Listing Date | July 2, 2025 |
| BSE Script Code | 544429 |
| NSE Symbol | HDBFS |
| ISIN | INE756I01012 |
| Final Issue Price | ₹740 per share |
| NSE Listing Group | EQ |
| BSE Listing Group | B |
HDB Financial Services Ltd.
Radhika, 2nd Floor,
Law Garden Road,
Navrangpura
Ahmedabad, Gujarat, 380009
Phone: +91 22 4911 6350
Email: investorcommunications@hdbfs.com
Website: http://hdbfs.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: hdbfinancial.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Lead Manager Reports
HDB Financial IPO is a main-board IPO of 16,89,18,917 equity shares of the face value of ₹10 aggregating up to ₹12,500.00 Crores. The issue is priced at ₹740 per share. The minimum order quantity is 20.
The IPO opens on June 25, 2025, and closes on June 27, 2025.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in HDB Financial IPO using UPI as a payment gateway. Zerodha customers can apply in HDB Financial IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in HDB Financial IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The HDB Financial IPO opens on June 25, 2025 and closes on June 27, 2025.
HDB Financial IPO lot size is 20, and the minimum amount required for application is ₹14,800.
You can apply in HDB Financial IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for HDB Financial IPO will be done on Monday, June 30, 2025, and the allotted shares will be credited to your demat account by Tuesday, July 1, 2025. Check the HDB Financial IPO allotment status.
The HDB Financial IPO listing date is on Wednesday, July 2, 2025.
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