HDB Financial Services IPO Debuts Today: Grey Market Premium Signals Strong Investor Interest and a Positive Listing.

Jul 02, 2025
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HDB Financial Services Ltd, a non-banking financial subsidiary of HDFC Bank, is set to list its equity shares on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) today, July 2, 2025. The IPO, which closed on June 27, 2025, was met with significant investor interest, being subscribed 16.69 times overall.

IPO Details and Subscription Status

The HDB Financial Services IPO comprised a fresh issue of shares worth ₹2,500 crore and an offer for sale (OFS) of ₹10,000 crore by promoter HDFC Bank. The IPO price was fixed at ₹740 per share, and the company successfully raised ₹12,500 crore. The IPO witnessed considerable demand across all investor categories. The qualified institutional buyers (QIBs) segment was subscribed 55.47 times, the non-institutional investors (NII) portion was booked 9.99 times, and the retail category saw a subscription of 5.72 times. The employee portion was subscribed 5.72 times, and the shareholder reservation portion was subscribed 4.26 times. A total of over 42.6 lakh applications were received.

Grey Market Premium (GMP) and Listing Expectations

Ahead of the listing, the grey market premium (GMP) for HDB Financial Services shares indicated a premium over the IPO price. On July 1, 2025, the GMP ranged from ₹67 to ₹76, suggesting a listing price between ₹807 and ₹816 per share. This translates to a potential listing gain of approximately 9% to 10.27%. Market experts anticipate a healthy listing gain of 8-10%, reflecting strong investor appetite.

Listing Information and Trading Details

The equity shares of HDB Financial Services will be listed and admitted to dealings on the exchange in the list of 'B' Group Securities. The stock will be available for trading from 10:00 AM. HDB Financial Services shares will also be a part of the Special Pre-open Session (SPOS) on Wednesday, July 2. The final issue price was ₹740 per share, at the upper end of the price band.

Company Overview

HDB Financial Services Limited, incorporated in 2007, is a retail-focused non-banking financial company (NBFC). It operates across three major verticals: Enterprise Lending, Asset Finance, and Consumer Finance. As of September 30, 2024, HDB Financial Services operated 1,772 branches across 1,162 towns in 31 states and Union Territories in India. The company has served 17.5 million customers as of September 30, 2024.

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Yashika Joshi

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