The initial public offering (IPO) of HDB Financial Services Ltd., a subsidiary of HDFC Bank, has received a robust response from investors, being fully subscribed by 4:00 p.m. on Day 2 of the bidding process.

The IPO, valued at ₹12,500 crore, is poised to become one of the largest IPOs by a non-banking financial company (NBFC) in India. It comprises:

• A fresh issue of 3.38 crore shares, aggregating up to ₹2,500 crore, and

• An offer for sale (OFS) of 13.51 crore shares, worth ₹10,000 crore, by promoter HDFC Bank.

This offering marks a significant step for the company, which provides retail lending and financial services across India.

Subscription Breakdown (As of Day 2)

While full data across investor categories will be available post Day 3, early reports indicate strong demand across QIBs (Qualified Institutional Buyers), NIIs (Non-Institutional Investors), and retail investors.

Industry experts attribute this enthusiasm to:

• HDB’s strong financials

• HDFC Bank’s brand backing

• Positive market sentiment around NBFCs

Grey Market Premium (GMP) Trends

As per IPO market observers:

• The HDB Financial Services IPO GMP (Grey Market Premium) is currently hovering around ₹45–₹50 per share, indicating positive listing expectations.

• With the issue price yet to be finalized, the expected listing price could offer a 10–15% premium, based on current GMP trends.

GMP can fluctuate and is unofficial and speculative, but it remains a popular indicator of market mood.

IPO Details at a Glance

About HDB Financial Services

HDB Financial Services is one of India’s leading NBFCs, offering:

• Retail loans

• Gold loans

• Consumer durable financing

• Insurance services

Backed by HDFC Bank, it has grown into a pan-India presence with a large customer base and significant loan book size.

The IPO proceeds from the fresh issue will be used to augment capital base for future business growth, while HDFC Bank’s OFS will help unlock value.

What’s Next?

Investors now await:

• Final day subscription data

• Price band announcement

• Allotment status and refund dates

• Listing gains based on grey market trends

The issue closes on June 27, 2025, and final allotments and listing are expected by early July 2025.

Disclaimer: This article is for informational purposes only and should not be considered financial advice. Investors are advised to consult with certified financial advisors and read all documents carefully before making investment decisions. Market conditions are subject to change.

The Upcoming IPOs in this week and coming weeks are Crizac, Silky Overseas, Vandan Foods, Pushpa Jewellers, Cedaar Textile, Adcounty Media India, Marc Loire Fashions, Neetu Yoshi.

The Current active IPO are Moving Media Entertainment, Valencia India, PRO FX Tech, Ace Alpha Tech, Indogulf Cropsciences, Suntech Infra Solutions, Rama Telecom, Supertech EV, Sambhav Steel Tubes, HDB Financials, Abram Food, Shri Hare-Krishna Sponge Iron, Icon Facilitators, Globe Civil Projects, Ellenbarrie Indutrial Gases, Kalpataru, AJC Jewel.

The Closed IPOs are Aakaar Medical Technologies, Safe Enterprises Retail Fixtures, Mayasheel Ventures.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst.