HDB Financial Services IPO Price Band Set at ₹700–₹740: All Key Details Inside

Market Performance

HDB Financial Services, a key subsidiary of HDFC Bank, has officially set the price band for its much-anticipated Initial Public Offering (IPO) at ₹700 to ₹740 per share. The announcement marks a significant development in India's NBFC sector and places HDB Financial Services among the most closely followed IPOs of the year.

Main News: IPO Structure & Schedule

• Price Band: ₹700–₹740 per equity share
• Face Value: ₹10 per share
• Lot Size: 20 shares and in multiples thereafter
• IPO Type: Combination of Fresh Issue + Offer for Sale (OFS)
• Fresh Issue: 33.8 million shares worth ₹2,500 Crore
• Offer for Sale: 135.1 million shares worth ₹10,000 Crore
• Total Issue Size: ₹12,500 Crore

Key IPO Dates

• Anchor Investor Allocation: June 24, 2025 (Tuesday)
• Subscription Opens: June 25, 2025 (Wednesday)
• Subscription Closes: June 27, 2025 (Friday)
• Allotment Finalization: June 30, 2025 (Monday)
• Refund Initiation: July 1, 2025 (Tuesday)
• Shares Credited to Demat: July 1, 2025 (Tuesday)
• Listing on NSE & BSE: July 2, 2025 (Wednesday)

Company Details: HDB Financial Services at a Glance

• Incorporated: 2007
• Parent Company: HDFC Bank
• NBFC Status: Categorised as an Upper Layer NBFC by the Reserve Bank of India
• Loan Book Size (as of March 31, 2024): ₹902.2 billion
• Business Verticals:
  • Enterprise Lending
  • Asset Finance
  • Consumer Finance
• Distribution Model: Omni-channel approach serving a large and diverse customer base
• Ranking: 7th largest retail-focused NBFC in India (as per CRISIL)

Share Allocation Breakdown

• Qualified Institutional Buyers (QIBs): Not more than 50% of the issue
• Non-Institutional Investors (NIIs): Not less than 15%
• Retail Investors: Not less than 35%
• Employee Reservation: Up to ₹20 Crore
• HDFC Bank Shareholders' Quota: Up to ₹1,250 Crore

IPO Objective

According to the company's Red Herring Prospectus (RHP), the primary aim of the IPO is to augment Tier-1 capital, which will support future capital requirements, including onward lending activities.

IPO Registrar & Book Running Lead Managers

• Registrar: MUFG Intime India (formerly Link Intime)
• Book Running Lead Managers:
  • BNP Paribas
  • JM Financial
  • BoFA Securities India
  • Goldman Sachs (India)
  • HSBC Securities
  • IIFL Capital
  • Jefferies India
  • Morgan Stanley India
  • Motilal Oswal
  • Nomura India
  • Nuvama Wealth
  • UBS Securities India

Summary

HDB Financial Services is all set to hit the primary market with a ₹12,500 Crore IPO, featuring a price band of ₹700–₹740 per share. Backed by a strong parent company—HDFC Bank—and a robust loan portfolio of ₹902.2 billion, this IPO has already generated notable attention.

With allocations tailored for retail, institutional, and shareholder participation and a clear objective to boost capital adequacy, HDB Financial Services' listing on July 2 will be closely watched by the market.