HDB Financial Services, the non-banking financial arm of HDFC Bank, has launched its much-anticipated ₹12,500 crore initial public offering (IPO) today, June 25, 2025. Touted as the largest NBFC IPO of the year, the issue has generated significant buzz among retail and institutional investors alike.
IPO Details at a Glance
- Issue Size: ₹12,500 crore
- Fresh Issue: ₹2,500 crore
- Offer for Sale (OFS): ₹10,000 crore by HDFC Bank
- Price Band: ₹700–₹740 per share
- Lot Size: 20 shares (minimum investment ₹14,800)
- Subscription Window: June 25–27, 2025
- Listing Date: Tentatively July 2, 2025 on BSE and NSE
- Grey Market Premium (GMP): ₹74–₹104.50, indicating strong listing expectations
Anchor Investor Response
Ahead of the IPO, HDB Financial raised ₹3,369 crore from 141 anchor investors, including marquee names like LIC, BlackRock, Goldman Sachs, and SBI Mutual Fund. This robust participation signals high institutional confidence in the company’s fundamentals and growth trajectory.
Business Snapshot
Founded in 2008, HDB Financial is a diversified NBFC offering enterprise lending, consumer finance, and asset finance. As of March 2025, it manages over ₹1 lakh crore in assets and serves 18.4 million customers across 1,792 branches in 1,168 cities.
Financial Performance
- FY25 Revenue: ₹16,300 crore
- FY25 Net Profit: ₹2,175.92 crore
- Net Interest Margin (NIM): 7.5%
- Return on Net Worth (RoNW): 14.7%
Should You Subscribe?
Most brokerages have issued a “Subscribe” rating, citing:
- Strong parentage (HDFC Bank)
- Robust retail lending model
- Competitive valuation compared to peers like Bajaj Finance and Chola Investment
- Healthy asset quality and growth potential
However, investors should also consider risks such as rising NPAs, macroeconomic headwinds, and high exposure to unsecured loans.
Final Verdict
If you’re a long-term investor seeking exposure to India’s growing NBFC sector, HDB Financial’s IPO offers a compelling opportunity. Backed by a strong brand, solid financials, and a wide distribution network, the company is well-positioned for future growth.
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