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HDB Financial Services IPO

  • Status: Closed
  • RHP:
  • ₹ 14,000 / 20 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    02 Jul 2025

  • Listing Price

    ₹835.00

  • Listing Change

    12.84%

  • Last Traded Price

    ₹749.00

HDB Financial Services IPO Details

  • Open Date

    25 Jun 2025

  • Close Date

    27 Jun 2025

  • Listing Date

    02 Jul 2025

  • IPO Price Range

    ₹ 700 to ₹740

  • IPO Size

    ₹ 12,500 Cr

  • Listing Exchange

    BSE, NSE

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Timeline Financials SWOT FAQ Contacts

HDB Financial Services IPO Timeline

HDB Financial Services IPO Subscription Status

Last Updated: 16 July 2025 4:27 PM by 5paisa

HDB Financial Services Limited is set to release its IPO on June 25, 2025. Incorporated in 2007, the company is a retail-focused, non-banking financial company (NBFC) operating across three major verticals: Enterprise Lending, Asset Finance, and Consumer Finance.

In addition to lending, HDB Financial also provides BPO services such as back-office support, collections, and sales support for its promoter and offers fee-based services like insurance product distribution to lending clients.
Its "phygital" model blends a strong offline presence with digital capabilities. As of September 30, 2024, HDB operates 1,772 branches across 1,162 towns in 31 states and UTs, with over 80% of branches situated outside India’s top 20 cities.
Distribution is enhanced by over 80 brand partnerships and a dealer network with 140,000+ touchpoints.

Established in: 2007
Managing Director: Ramesh Ganesan 

Peers

Bajaj Finance Limited    
Sundaram Finance Ltd.    
L&T Finance Limited    
Mahindra & Mahindra Financial Services Ltd.
Cholamandalam Investment And Finance Company Ltd
Shriram Finance Limited
 

HDB Financial Services Objectives

The net proceeds from the Fresh Issue will be used for:

Augmenting Tier–I Capital to support future capital requirements & Onward lending
 

HDB Financial Services IPO Size

Types Size
Total IPO Size ₹12,500.00 Cr
Offer For Sale ₹2,500.00 Cr
Fresh Issue ₹10,000.00 Cr

 

HDB Financial Services IPO Lot Size

Application Lots Shares Amount(₹)
Retail (Min) 1 20 14000
Retail (Max) 13 260 182000
S-HNI (Min) 14 280 196000
S-HNI (MAX) 67 1340 938000
HNI (Min) 68 1360 952000

HDB Financial Services IPO Reservation

Investors Category Subscription (times) Shares Offered Shares bid for Total Amount (Cr.)*
QIB 58.64 3,03,51,352 1,77,96,82,480 1,31,696.504
NII (HNI) 10.55 2,27,63,514 24,02,61,660 17,779.363
bNII (bids above ₹10L) 12.44 1,51,75,676 18,87,73,540     13,969.242
sNII (bids below ₹10L) 1.51 75,87,838 5,14,88,120 3,810.121
Retail 0.86 5,31,14,865 8,02,72,980 5,940.201
Total** 17.65 12,33,91,893 2,17,78,03,360 1,61,157.449

 

*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.

HDB Financial Services IPO Anchor Allocation

Anchor 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 30, 2025
Anchor lock-in period end date for remaining shares (90 Days) September 28, 2025

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY24 FY25
Revenue 12402.88 14171.12 16300.28
EBITDA 6251.12 8314.13 9512.37
PAT 1959.35 2460.84 2175.92
Particulars (in Rs. Crores)] FY23 FY24 FY25
Total Assets 54865.31 74330.67 87397.77
Share Capital 793.08 791.40 790.44
Total Borrowings 70050.39 92556.51 108663.29
Particulars (in Rs. Crores FY23 FY24 FY25
Net Cash Generated From / (used in) operating activities -6850.61 -16736.04 -13626.33
Net Cash Generated From / (used in) investing activities 973.32 -2145.56 1159.02
Net Cash Generated From / (used in) financing activities 5795.99 19133.55 12769.92
Net Increase (Decrease) In Cash And Cash Equivalents -81.30 251.95 302.61


Strengths

1. Strong parentage and financial backing from HDFC Bank.
2. Broad pan-India footprint with 1,772 branches.
3. Diversified revenue from lending, BPO, and distribution.
4. Robust network of 140,000+ dealer points and 80 OEM brand partnerships.
 

Weaknesses

1. High capital dependence and significant borrowings.
2. Negative operational cash flows in recent periods.
3. Complex business model with dependency on the promoter for certain services.
4. Intense competition in the NBFC segment.

Opportunities

1. Expansion into Tier 2/3 cities with growing credit demand.
2. Growing demand for unsecured and retail loans.
3. Digital transformation can lower acquisition and servicing costs.
4. Rising insurance and BPO demand from the financial ecosystem.

Threats

1. Regulatory scrutiny and compliance requirements for NBFCs.
2. Credit cycle fluctuations can affect NPA levels.
3. Rising interest rates may impact borrowing costs.
4. Fintech disruption in the retail lending segment.


 

1. Backed by HDFC Bank with strong credibility.
2. Wide distribution and diversified lending products.
3. Consistent financial performance with robust net worth growth.
4. Strategic use of IPO funds to fuel future expansion and lending capacity.
5. Positioned to benefit from India’s growing retail credit ecosystem.
 

Should You Invest in the HDB Financial Services IPO?

According to 5paisa’s Senior Research Analyst, Sachin Gupta, the HDB Financial Services IPO presents an opportunity to participate in India’s fast-evolving NBFC growth story. The company’s strong promoter backing, wide distribution reach, and consistent expansion make it a compelling name in the financial services space.

However, Sachin notes that investors should also be mindful of the premium valuation at which the IPO is being offered. Rising NPAs and ongoing regulatory changes in the NBFC sector could pose medium-term risks. Before subscribing, investors should evaluate whether the ₹700–740 price band is justified based on the company’s fundamentals, and consider their own risk appetite when it comes to sector-specific headwinds.

This IPO may suit those who believe in the long-term structural growth of NBFCs and are comfortable with near-term volatility.

1. Expanding the NBFC sector with growing credit demand across India.
2. Government initiatives like Digital India and financial inclusion drive growth.
3. Enhanced use of AI and digital underwriting in consumer lending.
4. Strong competitive market with a need for constant tech innovation.
 

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FAQs

HDB Financial Services IPO opens on June 25, 2025, and closes on June 27, 2025.

The  HDB Financial Services IPO size is ₹12,500.00 Cr, including ₹2,500.00 Cr fresh issue and ₹10,000.00 Cr offer for sale.

The price band of HDB Financial Services IPO is ₹700 to ₹740 per share.

To apply for HDB Financial Services IPO:

  • Log in to your 5paisa account and go to the current IPO section.
  • Select HDB Financial IPO, enter lot size and price.
  • Provide your UPI ID and submit the application.
  • Approve the UPI mandate request in your UPI app.
     

The minimum lot size of HDB Financial Services IPO 20 Shares and the investment amount are ₹14,000.

The allotment of HDB Financial Services IPO is expected to be finalised on June 30, 2025.

HDB Financial Services IPO will be listed on July 2, 2025, on BSE and NSE.

The book-running lead managers include JM Financial, BNP Paribas, BofA Securities, Goldman Sachs, HSBC, IIFL, Jefferies, Morgan Stanley, Motilal Oswal, Nomura, Nuvama, and UBS of HDB Financial IPO.
 

HDB Financial Services plans to utilise the IPO proceeds towards: 

Augmenting Tier–I Capital to support future capital requirements & Onward lending