The IPO of HDB Financial Services Limited has been announced and will remain open from June 25 to June 27, 2025. The price band for the IPO is set between ₹700 and ₹740 per share, and through this offering, the company aims to raise ₹12,500 crore.
For more details about the IPO, please refer to the official IPO document or offer details.
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HDB Financial Services IPO Details:
| Item | Details |
|---|---|
| IPO Date | June 25, 2025 to June 27, 2025 |
| Listing Date | July 2, 2025 (Tentative) |
| Face Value | ₹10 per share |
| Price Band | ₹700 to ₹740 per share |
| Lot Size | 20 shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 16,89,18,918 shares (₹12,500 crore) |
| ┗ Fresh Issue | 3,37,83,783 shares (₹2,500 crore) |
| ┗ Offer for Sale (OFS) | 13,51,35,135 shares (₹10,000 crore) |
| Net Offered to Public | 16,89,18,918 shares |
| Issue Type | Book Building IPO |
| Listing At | BSE, NSE |
| Shareholding Pre-Issue | 79,39,63,540 shares |
| Shareholding Post-Issue | 82,77,47,323 shares |
HDB Financial Services IPO Timeline (Tentative)
| Event | Date |
|---|---|
| IPO Open Date | Wed, June 25, 2025 |
| IPO Close Date | Fri, June 27, 2025 |
| Tentative Allotment Date | Mon, June 30, 2025 |
| Refunds Initiation | Tue, July 1, 2025 |
| Credit of Shares to Demat | Tue, July 1, 2025 |
| Tentative Listing Date | Wed, July 2, 2025 |
| UPI Mandate Cut-off Time | 5 PM, June 27, 2025 |
HDB Financial Services IPO Lot Size & Investment
| Category | Lots | Shares | Approx. Amount |
|---|---|---|---|
| Retail (Min) | 1 | 20 | ₹14,800 |
| Retail (Max) | 13 | 260 | ₹1,92,400 |
| S-HNI (Min) | 14 | 280 | ₹2,07,200 |
| S-HNI (Max) | 67 | 1,340 | ₹9,91,600 |
| B-HNI (Min) | 68 | 1,360 | ₹10,06,400 |
HDB Financial Services IPO Reservation Details
| Investor Category | Shares Offered | % of Total | Maximum Allottees |
|---|---|---|---|
| Qualified Institutional Buyers (QIB) | 7,58,78,378 shares | 44.92% | NA |
| Non-Institutional Investors (NII / HNI) | 2,27,63,514 shares | 13.48% | NA |
| Retail Individual Investors (RII) | 5,31,14,865 shares | 31.44% | 26,55,743 |
| Employee Reservation | 2,70,270 shares | 0.16% | NA |
| Other Category (Including HDFC Shareholders) | 1,68,91,892 shares | 10.00% | NA |
| Total | 16,89,18,919 shares | 100.00% |
HDB Financial Services IPO – Promoter Shareholding
| Particulars | Details |
|---|---|
| Promoter | HDFC Bank Limited |
| Shareholding (Pre-Issue) | 94.32% |
| Shareholding (Post-Issue) | 74.19% |
| Equity Dilution | 20.13% |
Note:
Equity Dilution is calculated as:
94.32% − 74.19% = 20.13%
HDB Financial Services – Consolidated Financial Summary
| Particulars | FY 2022–23 | FY 2023–24 | FY 2024–25 | % Change (FY25 vs FY24) |
|---|---|---|---|---|
| Assets | 70,050.39 | 92,556.51 | 1,08,663.29 | ▲ 17.4% |
| Revenue | 12,402.88 | 14,171.12 | 16,300.28 | ▲ 15.0% |
| Profit After Tax | 1,959.35 | 2,460.84 | 2,175.92 | ▼ 11.6% |
| EBITDA | 6,251.16 | 8,314.13 | 9,512.37 | ▲ 14.4% |
| Net Worth | 10,436.09 | 12,802.76 | 14,936.50 | ▲ 16.7% |
| Reserves & Surplus | 10,645.57 | 12,949.63 | 15,023.97 | ▲ 16.0% |
| Total Borrowing | 54,865.31 | 74,330.67 | 87,397.77 | ▲ 17.6% |
Key Financial Insights:
- Revenue Growth: Up 15% YoY, showing strong lending and service expansion.
- PAT Decline: Down 11.6% YoY – could be due to rising interest costs or provisioning.
- Borrowing Rise: 17.6% increase suggests funding for growing asset base or loan book.
- Net Worth & Reserves: Improved steadily, indicating solid retained earnings and growth.
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HDB Financial Services Utilization of IPO Proceeds
| Use | Amount (₹ Crore) | Details |
|---|---|---|
| Fresh Issue Proceeds | ₹2,500 | Entire amount allocated to strengthen Tier‑I capital base, support lending across enterprise, asset, and consumer finance segments, and meet regulatory capital requirements. A small portion to cover IPO-related expenses (legal, marketing, regulatory) |
| Offer for Sale (OFS) | ₹10,000 | Proceeds go entirely to HDFC Bank, the selling promoter—no proceeds flow to HDB Financial . |
About HDB Financial Services Limited
HDB Financial Services Limited is a leading non-banking financial company (NBFC) in India, incorporated in 2007. It operates as a subsidiary of HDFC Bank Limited, which held approximately 94.32% stake in the company before its IPO. Headquartered in Mumbai, HDB Financial primarily focuses on providing a wide range of financial products and services across retail and business segments. Its offerings include personal loans, business loans, gold loans, auto and two-wheeler loans, loans against property, and consumer durable financing. Additionally, the company offers BPO services such as document verification, collections, and customer support.
As of March 2025, the company had over 1,747 branches across 27 states and 4 union territories, with a workforce of more than 64,000 employees. Financially, HDB reported assets of ₹1,08,663 crore, revenue of ₹16,300 crore, and a net profit of ₹2,175 crore for FY 2024–25. It enjoys strong credit ratings of CARE AAA and CRISIL AAA for long-term instruments, indicating high financial stability.
HDB’s strategic focus is on expanding into Tier-II and Tier-III cities to serve India’s underbanked population. The IPO has been launched primarily to strengthen its Tier-I capital base, enabling it to meet regulatory norms and support future growth in its lending business. With a trusted brand, solid financials, and nationwide reach, HDB Financial Services is positioned as a key player in India’s growing NBFC sector.
