HDB Financial Services IPO opens tomorrow: GMP, issue details, 10 key things to know

HDB Financial Services IPO opens for subscription on tomorrow (Wednesday, June 25). HDB Financial Services ranks as the seventh largest diverse retail-focused non-banking financial company (NBFC) in India, with a total gross loan book of ₹902.2 billion as of March 31, 2024, according to the CRISIL Report, among its NBFC competitors.

The company's peers, as stated in the red herring prospectus (RHP), include Bajaj Finance Ltd (with a P/E of 34.3), Sundaram Finance Ltd (with a P/E of 28.1), L&T Finance Ltd (with a P/E of 17.9), Mahindra & Mahindra Financial Services Ltd (with a P/E of 14.5), Cholamandalam Investment and Finance Company Ltd (with a P/E of 31.4), and Shriram Finance Ltd (with a P/E of 13.0).

HDB Financial Services provides a broad range of lending products designed to meet the needs of a diverse and expanding customer base through a comprehensive omni-channel distribution network. The company’s lending offerings are divided into three business segments: Enterprise Lending, Asset Finance, and Consumer Finance.

As of March 31, 2025, the NBFC's total gross loans reached ₹1,068.8 billion, indicating a compound annual growth rate (CAGR) of 23.54% from March 31, 2023, to March 31, 2025.

Their assets under management amounted to ₹1,072.6 billion as of March 31, 2025, reflecting a CAGR of 23.71% during the same period, from fiscal 2023 to fiscal 2025. In fiscal 2025, the firm reported a profit after tax of ₹21.8 billion, showcasing a CAGR of 5.38% between fiscal 2023 and fiscal 2025.

Here are the 10 key things to know about HDB Financial Services IPO

HDB Financial Services IPO date: The issue opens for subscription on Wednesday, June 25, and closes on Friday, June 27.

HDB Financial Services IPO price band: The issue's price band has been fixed in the range of ₹700 to ₹740 per equity share of face value of ₹10.

HDB Financial Services IPO lot size: The issue's lot size is 20 equity shares and in multiples of 20 equity shares thereafter.

Anchor investors: The allocation to anchor investors for HDB Financial Services IPO is scheduled to take place today (Tuesday, June 24).

HDB Financial Services IPO details: The IPO consists of a fresh issue of ₹2,500 crore along with an offer for sale of ₹10,000 crore from HDFC Bank.

HDB Financial Services IPO Objective: The net proceeds will be utilised to strengthen the company's Tier-I Capital base, enabling it to meet forthcoming capital requirements across its diverse business sectors, such as Enterprise Lending, Asset Finance, and Consumer Finance. These requirements are expected to arise from the expansion of the company's operations and asset base, while also ensuring compliance with the capital adequacy regulations set by the RBI as they may change.

HDB Financial Services IPO listing date and allotment details: Tentatively, the allocation of shares for the HDB Financial Services IPO will be determined on Monday, June 30. The company will begin issuing refunds on Tuesday, July 1, and the shares will be deposited into the demat accounts of those allotted shares on the same day after the refunds. HDB Financial Services shares are expected to make their debut on the BSE and NSE on Wednesday, July 2.

Lead Manager and Registrar of HDB Financial Services IPO: JM Financial Limited, BNP Paribas, Bofa Securities India Limited, Goldman Sachs (India) Securities Private Limited, HSBC Securities & Capital Markets Pvt Ltd, IIFL Capital Services Limited, Jefferies India Private Limited, Morgan Stanley India Company Pvt Ltd, Motilal Oswal Investment Advisors Limited, Nomura Financial Advisory And Securities (India) Pvt Ltd, Nuvama Wealth Management Limited, and UBS Securities India Private Limited serve as the book running lead managers for the HDB Financial IPO, while MUFG Intime India Private Limited (Link Intime) acts as the registrar for the offering.

HDB Financial Services IPO reservation: HDB Financial Services IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. The employee reservation portion has been reserved equity shares aggregating up to ₹200 million, and HDFC Bank shareholder reservation portion consists of equity shares aggregating up to ₹12,500 million.

HDB Financial Services IPO GMP today: HDB Financial Services IPO GMP today is +73. This indicates HDB Financial Services share price was trading at a premium of ₹73 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of HDB Financial Services share price is indicated at ₹813 apiece, which is 9.86% higher than the IPO price of ₹740.

According to the grey market activities observed in the last 12 sessions, the IPO GMP is currently on an upward trend and is anticipated to achieve a robust listing. The minimum GMP recorded is ₹0.00, while the maximum stands at ₹104.50, as reported by the expert from investorgain.com.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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.