HDB Financial Services day 2: GMP, subscription status, price, date to review. Apply or not to this HDFC Bank arm?

HDB Financial Services IPO: The initial public offering (IPO) of HDB Financial Services Limited hit the Indian primary market on 25 June. The public issue will remain open until 27 June 2025. The HDFC Bank arm company has declared the HDB Financial Services IPO price band at ₹700 to ₹740 per equity share. The book build issue is proposed for listing on the BSE and the NSE. The initial public offer aims to raise ₹12,500 crore from this public issue, out of which ₹2,500 crore is aimed at issuing fresh shares. The rest of ₹10,000 crore is reserved for the offer for sale (OFS). According to market observers, company shares are available in the grey market well ahead of the HDB Financial Services IPO subscription opening. They said that one share of HDB Financial Services Limited is available at a premium of ₹75 in the grey market today.

BNP Paribas, JM Financial, BofA Securities India, Goldman Sachs India, HSBC Securities, IIFL Capital Services, Jefferies India, Morgan Stanley India, Motilal Oswal Investment Advisors, Nomura India, Nuvama Wealth Management, UBS Securities India are the book-running lead managers of the HDB Financial IPO. At the same time, MUFG Intime India Private Limited (Link Intime) is the official registrar for the issue.

HDB Financial Services IPO subscription status

By 5:00 PM on day 2 of bidding, the public issue had been subscribed 1.16 times, the retail portion of the public issue had been booked 0.64 times, the NII segment had been subscribed 2.29 times, and the QIB portion had been filled 0.90 times.

Top 10 HDB Financial Services IPO details

1] HDB Financial Services IPO GMP: According to market observers, the company's shares are available at a premium of ₹75 in today's grey market.

2] HDB Financial Services IPO price: The company has declared the price band for the book-build issue at ₹700 to ₹740 per equity share.

3] HDB Financial IPOHDB Financial Services IPO date: The public issue has opened today and will remain open until 27 June 2025.

4] HDB Financial Services IPO size: The company aims to raise ₹12,500 crore, of which ₹10,000 crore is reserved for OFS and the rest, ₹2,500 crore, is aimed through fresh shares.

5] HDB Financial Services IPO lot size: A bidder can apply in lots, and one lot of the book build issue comprises 20 company shares.

6] HDB Financial Services IPO allotment date: The most likely date to finalise the share allocation is 30 June 2025.

7] HDB Financial IPO registrar: MUFG Intime India Private Limited (Link Intime) has been appointed the official registrar of the book build issue.

8] HDB Financial Services IPO lead managers: BNP Paribas, JM Financial, BofA Securities India, Goldman Sachs India, HSBC Securities, IIFL Capital Services, Jefferies India, Morgan Stanley India, Motilal Oswal Investment Advisors, Nomura India, Nuvama Wealth Management, UBS Securities India have been appointed lead manager of the public issue.

9] HDB Financial Services IPO listing date: The most likely date for listing shares is 2 July 2025.

HDB Financial Services IPO: Apply or not?

10] HDB Financial Services IPO review: KR Choksey Securities has given a 'subscribe' tag to the public issue, saying, "HDB's initial issue is priced at 3.4x TTM P/B (considered equity raise for calculating TTM BV) compared to the peer average of 4.4x TTM P/B. We believe the issue is attractively priced, considering its parentage, peer group ROA average and its growth potential. We assign a "SUBSCRIBE" rating to the initial issue of the HDB Financial Service."

Sharekhan has also assigned a 'subscribe' tag to the initial offer, saying, "The company is valued at an FY25 price-to-book ratio of ~3.2x/~3.4x at post-issue capital at the lower price band & upper price band respectively, which is reasonable as compared to its peers considering the growth and return ratio profile. Strong parentage and much smaller size than its core peer (Bajaj Finance) provide a long runway for growth. Additionally, a favourable macro environment will be a tailwind for the sector in the near to medium term. We expect healthy listing gains and remain assertive from a medium to long-term perspective."

Apart from these, Kunvarji Finstock, Aditya Birla Money, Bajaj Broking, Canara Bank Securities, Centrum Wealth Management, Nirmal Bang, SBI Capital Securities, etc., have also been assigned a 'subscribe' tag to the HDB Financial Services IPO.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.