HDB Financial Services sets IPO price band at ₹700-740; check key details

HDB Financial Services IPO comprises a fresh issue of 33.8 million equity shares and an offer for sale of 135.1 million equity shares

HDB Financial Services IPO price band: The non-banking financial services (NBFC) HDB Financial Services has set the price band for its maiden public issue in the range of ₹700 to ₹740 per equity share of the face value ₹10 each. 

 

HDB Financial Services IPO comprises a fresh issue of 33.8 million equity shares amounting to ₹2,500 crore and an offer for sale of 135.1 million equity shares amounting to ₹10,000 crore. The mainline offering is scheduled to open for subscription on Wednesday, June 25, and will close on Friday, June 27. The allocation to anchor investors for the mainline IPO will take place on Tuesday, June 24. 

 

 

The floor price and the cap price are 70 times and 74 times the face value of the shares, respectively. The company has fixed the lot size of 20 shares and in multiples, thereafter. 

 

According to the red herring prospectus (RHP), the company has reserved not more than 50 per cent of the issue size for qualified institutional buyers (QIBs), not less than 15 per cent for non-institutional investors (NIIs) and not less than 35 per cent for retail investors.  The employee reservation portion has been booked equity shares aggregating up to ₹20 crore. In addition, HDFC Bank's shareholder reservation portion consists of equity shares aggregating up to ₹1,250 crore.  

HDB Financial Services IPO key dates

As per the RHP, the basis of allotment of shares is expected to be finalised on Monday, June 30, 2025. The company will initiate refunds on Tuesday, July 1, and the shares will be credited to the demat accounts of allottees on the same day following the refund. Shares of HDB Financial Services will be listed on both the exchanges, National Stock Exchange (NSE) and BSE, tentatively on Wednesday, July 2.

HDB Financial Services IPO objective

According to the RHP, the company plans to use the net fresh issue proceeds for augmentation of its Tier-1 capital base to meet the company's future capital requirements including onward lending. 

HDB Financial Services IPO registrar, lead managers

MUFG Intime India, formerly Link Intime, is the registrar for the issue. BNP Paribas, JM Financial, BoFA Securities India, Goldman Sachs (India) Securities, HSBC Securities & Capital Markets, IIFL Capital Services, Jefferies India, Morgan Stanley India Company, Motilal Oswal Investment Advisors, Nomura Financial Advisory And Securities (India), Nuvama Wealth Management, UBS Securities India are the book running lead managers  

About HDB Financial Services

Incorporated in 2007 as a subsidiary of HDFC Bank, HDB Financial Services is the seventh largest retail-focused NBFC in India in terms of the size of total gross loan book at ₹902.2 billion as of March 31, 2024, according to a CRISIL report. The company is categorised as an upper-layer NBFC by the Reserve Bank of India (RBI). It offers a large portfolio of lending products that cater to a growing and diverse customer base through a wide omni-channel distribution network. HDB's lending products are offered through its three business verticals including Enterprise Lending, Asset Finance and Consumer Finance.