| HDB Financial IPO: Here is What We Know So Far | HDB Financial IPO Coming Soon! A Value Buy or Expensive? Deep Analysis |
| HDB Financial Business Model Analysis | HDB Financial IPO Allotment |
HDB Financial Services IPO Description – HDB Financial Services, a subsidiary of HDFC Bank, is a leading retail-focused Non-Banking Financial Company (NBFC) in India, classified as an Upper Layer NBFC by the RBI. As of 31 March 2025, the company reported Total Gross Loans of INR 1,06,880 crore, reflecting a CAGR of 23.54% since March 2023. Its Assets Under Management stood at INR 1,07,260 crore as of 31 March 2025, with a CAGR of 23.71%. HDB Financial posted a Profit After Tax of INR 2,180 crore in Fiscal 2025, achieving a 5.38% CAGR since Fiscal 2023. Return on Average Assets and Return on Average Equity stood at 2.16% and 14.72% respectively.
With a strong branch network of 1,771 branches across 1,170 towns and partnerships with over 1,40,000 retailers, HDB serves 19.2 million customers, growing at a 25.45% CAGR. Its loan book is well-diversified across Enterprise Lending (39.30%), Asset Finance (38.03%), and Consumer Finance (22.66%), with secured loans forming 71.01% of total loans. HDB maintains superior asset quality, reflected in GNPA and NNPA ratios of 2.26% and 0.99%, respectively. Supported by AAA-stable credit ratings from CRISIL and CARE, HDB operates with a low average borrowing cost of 7.90% and a CRAR of 19.22%.
Promoters of HDB Financial Services – HDFC Bank Limited
Table of Contents
HDB Financial Services IPO Details
| HDB Financial Services IPO Dates | 25 – 27 June 2025 |
| HDB Financial Services IPO Price | INR 700 – 740 per share |
| Shareholder Quota | 1,78,57,142 shares, no discount |
| Employee Quota | 2,85,714 shares, no discount |
| Fresh issue | INR 2,500 crore |
| Offer For Sale | INR 10,000 crore |
| Total IPO size | INR 12,500 crore |
| Minimum bid (lot size) | 20 shares (INR 14,800) |
| Face Value | INR 10 per share |
| Retail Allocation | 35% |
| Listing On | NSE, BSE |
HDB Financial Services Financial Performance
| FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
| Revenue | 11,306.29 | 12,402.88 | 14,171.12 | 16,300.28 |
| Expenses | 9,958.73 | 9,775.48 | 10,866.45 | 13,372.48 |
| Net income | 1,011.40 | 1,959.35 | 2,460.84 | 2,175.92 |
| Margin (%) | 8.95 | 15.80 | 17.37 | 13.35 |
HDB Financial Services Offer News
- HDB Financial Services RHP
- HDB Financial Services DRHP
- HDB Financial Unlisted Share Price
- ASBA IPO Forms
- Live IPO Subscription Status
- IPO Allotment Status
HDB Financial Services Valuations & Margins
| FY 2023 | FY 2024 | FY 2025 (Pre-Issue) | FY 2025 (Post-Issue)* | |
| EPS | 24.76 | 31.04 | 27.32 | 26.23 |
| PE Ratio | – | – | 25.62 – 27.09 | 26.69 – 28.21 |
| FY 2023 | FY 2024 | FY 2025 | |
| RoE (%) | 18.68 | 19.55 | 14.72 |
| NAV | 144.7 | 173.3 | 198.8 |
| EBITDA (%) | 50.40 | 58.67 | 58.36 |
| Debt/Equity | 5.26 | 5.81 | 5.85 |
HDB Financial Services IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 1 July 2025 | 70 | – | 1,200 |
| 30 June 2025 | 58 | – | 1,000 |
| 28 June 2025 | 58 | – | 1,000 |
| 27 June 2025 | 55 | – | 900 |
| 26 June 2025 | 75 | – | 1,200 |
| 25 June 2025 | 75 | – | 1,200 |
| 24 June 2025 | 70 | – | 1,100 |
| 23 June 2025 | 50 | – | 750 |
| 21 June 2025 | 85 | – | 1,500 |
| 20 June 2025 | 75 | – | 1,500 |
| 19 June 2025 | 90 | – | – |
HDB Financial Services IPO Objectives
The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
- Augmentation of the company’s Tier – I Capital base to meet the company’s future capital requirements including onward lending
HDB Financial Services IPO Subscription – Live Updates
| Category | QIB | NII | Retail | Emp | Shareholder | Total |
|---|---|---|---|---|---|---|
| Shares Offered | 3,20,85,713 | 2,40,64,286 | 5,61,50,000 | 2,85,714 | 1,78,57,142 | 13,04,42,855 |
| 27 Jun 2025 | 55.47 | 9.99 | 1.41 | 5.72 | 4.26 | 16.69 |
| 26 Jun 2025 | 0.90 | 2.29 | 0.64 | 5.14 | 1.29 | 1.11 |
| 25 Jun 2025 | 0.01 | 0.76 | 0.30 | 1.77 | 0.55 | 0.35 |
4,55,27,026 shares allotted to anchor investors are not included in these calculations.
HDB Financial Services – Comparison With Listed Peers
| Company | PE ratio | EPS | RoE (%) | NAV | Revenue (Cr.) |
| HDB Financial Services | 28.21 | 26.23 | 14.72 | 198.8 | 16,300.28 |
| Bajaj Finance | 34.3 | 26.82 | 19.35 | 155.6 | 69,683.51 |
| Sundaram Finance | 28.1 | 170.53 | 15.48 | 1,187.8 | 8,485.63 |
| L&T Finance | 17.9 | 10.61 | 10.79 | 102.5 | 15,924.24 |
HDB Financial Services IPO Dates & Listing Performance
| IPO Opening Date | 25 June 2025 |
| IPO Closing Date | 27 June 2025 |
| Finalization of Basis of Allotment | 30 June 2025 |
| Initiation of refunds | 1 July 2025 |
| Transfer of shares to demat accounts | 1 July 2025 |
| HDB Financial Services IPO Listing Date | 2 July 2025 |
| Opening Price on NSE | INR 835 per share (up 12.84%) |
| Closing Price on NSE | INR 840.95 per share (up 13.64%) |
HDB Financial Services IPO Reviews – Subscribe or Avoid?
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HDB Financial Services Offer Lead Manager
JM FINANCIAL LIMITED
7th Floor, Cnergy, Appasaheb Marathe Marg,
Prabhadevi Mumbai – 400 025
Phone: +91 22 6630 3030 / 3262
Email: [email protected]
Website: jmfl.com
HDB Financial Services Offer Registrar
MUFG INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: [email protected]
Website: www.in.mpms.mufg.com
HDB Financial Services Contact Details
HDB FINANCIAL SERVICES LIMITED
HDB House, Tukaram Sandam Marg, A-Subhash Road,
Vile Parle (East), Mumbai – 400 057, Maharashtra, India
Phone: +91 22 4911 6350
Email: [email protected]
Website: www.hdbfs.com
HDB Financial Services IPO FAQs
How many shares in HDB Financial Services IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply for HDB Financial Services Public Offer?
The best way to apply for HDB Financial Services public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is HDB Financial Services IPO GMP today?
HDB Financial Services IPO GMP today is INR 70 per share.
What is HDB Financial Services kostak rate today?
HDB Financial Services kostak rate today is INR NA per application.
What is HDB Financial Services Subject to Sauda rate today?
HDB Financial Services Subject to Sauda rate today is INR 1,200 per application.
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