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HDB Financial Services logo is seen in this illustration taken June 19, 2025. | Photo Credit: REUTERS/Dado Ruvic
India’s largest NBFC public issue, HDB Financial Services, will hit the primary market today at a price band ₹700-740 a share. The mega ₹12,500-crore IPO will close on June 27 (Friday). Bids can be made for a minimum of 20 Equity Shares and in multiples of 20 Equity Shares thereafter. Follow our live updates
The total offer size of equity shares with a face value ₹10 each comprises a fresh issue worth ₹2,500 crore and an offer for sale of up to ₹10,000 crore by HDFC Bank.
The company proposes to use the net proceeds from the fresh issue to augment its Tier—I Capital base to meet its future capital requirements, including onward lending under any of its business verticals, i.e., Enterprise Lending, Asset Finance, and Consumer Finance. Further, a portion of the proceeds from the Fresh Issue will be used to meet Offer Expenses.
Meanwhile, HDB Financial Services has allotted 4,55,27,026 Equity Shares to anchor investors at the upper price band of ₹740 per equity share with a face value of ₹ 10 per share and raised ₹3,368.99 Crore. Some of the marquee investors include the Life Insurance Corporation of India, ICICI Prudential MF, Nippon Life India MF, BlackRock, Axis MF, Aditya Birla Sun Life MF, UTI MF, Schroder International Selection Fund, and Goldman Sachs Funds, among others.
Up to 50 per cent of the offer is reserved for QIBs, not less than 15 per cent for non-institutional investors and up to 35 per cent is reserved for retail investors. The IPO also has reservations for shareholders of HDFC Bank (up to ₹1,250 crore or 1.78 crore shares) and employees (2.85 lakh shares).
JM Financial Limited, BNP Paribas, BofA Securities India Limited, Goldman Sachs (India) Securities Private Limited, HSBC Securities and Capital Markets (India) Private Limited, IIFL Capital Services Limited (Formerly known as IIFL Securities Limited), Jefferies India Private Limited, Morgan Stanley India Company Private Limited, Motilal Oswal Investment Advisors Limited, Nomura Financial Advisory and Securities (India) Private Limited, Nuvama Wealth Management Limited, UBS Securities India Private Limited are the Book Running Lead Managers to the offer.
Published on June 25, 2025
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