HDB Financial Services IPO
Bookbuilding IPO | ₹12,500.00 Cr | Listing at BSE, NSE
IPO Open
Wed, Jun 25, 2025
IPO Close
Fri, Jun 27, 2025
Price Band
₹700.00 to ₹740.00
Market Cap (Pre-IPO)
₹61,253.30 Cr
IPO Details
| IPO Date | Jun 25, 2025 to Jun 27, 2025 |
| Listing Date | Tentative: Jul 02, 2025 |
| Face Value | ₹10.00 per share |
| Price Band | ₹700.00 to ₹740.00 |
| Lot Size | 20 Shares (Minimum: ₹14,800.00) |
| Sale Type | Offer For Sale + Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹12,500.00 Crores |
| Total Shares Offered | 168,918,917 shares |
| Fresh Issue | 33,783,782 shares |
| Offer For Sale | 135,135,135 shares |
Subscription Data
| Category | Times Subscribed |
|---|---|
| QIB | 58.64x |
| NII | 10.55x |
| RII | 1.51x |
| Total | 17.65x |
HDB Financial Services IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 7,58,78,377 (44.92%) |
| Retail Shares Offered | 5,31,14,865 (31.44%) |
| NII Shares Offered | 2,27,63,514 (13.48%) |
HDB Financial Services IPO Lot Size
Investors can bid for a minimum of 20 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 20 | ₹14,800 |
| Retail (Max) | 13 | 260 | ₹192,400 |
| S-HNI (Min) | 14 | 280 | ₹207,200 |
| S-HNI (Max) | 67 | 1,340 | ₹991,600 |
| B-HNI (Min) | 68 | 1,360 | ₹1,006,400 |
HDB Financial Services Financial Information (Restated Consolidated)
HDB Financial Services Ltd.'s revenue increased by 15% and profit after tax (PAT) dropped by 12% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 108,663.29 | 92,556.51 | 70,050.39 |
| Total Income | 16,300.28 | 14,171.12 | 12,402.88 |
| Profit After Tax | 2,175.92 | 2,460.84 | 1,959.35 |
| EBITDA | 9,512.37 | 8,314.13 | 6,251.16 |
| NET Worth | 14,936.50 | 12,802.76 | 10,436.09 |
| Reserves and Surplus | 15,023.97 | 12,949.63 | 10,645.57 |
| Total Borrowing | 87,397.77 | 74,330.67 | 54,865.31 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 14.72% |
| ROCE (Return on Capital Employed) | 0.00% |
| Debt/Equity | 5.85 |
| RoNW (Return on Net Worth) | 0.00% |
| PAT Margin (Profit After Tax Margin) | 0.00% |
| EBITDA Margin | 0.00% |
| Price to Book Value | 3.72 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 27.41 | 26.29 |
| P/E (x) | 27.00 | 28.15 |
| Promoter Holding | 94.32% | 74.19% |
Company Promoters
- HDFC Bank Limited is the promoter of the company .
Company Overview
Incorporated in 2007, HDB Financial Services Limited is a retail-focused, non-banking financial company.
The company also offer business process outsourcing (“BPO”) services such as back-office support services, collection and sales support services to our Promoter as well as fee-based products such as distribution of insurance products primarily to the lending customers.
HDB Financial Services Limited's omni-channel “phygital” distribution model combines a large branch network, in-house tele-calling teams and various external distribution networks and channel partners.
Business Verticals:
- Enterprise Lending:The first business vertical launched in 2008. they offer a variety of secured and unsecured loans to MSME customers, as well as certain types of salaried employees, primarily through their branch network.
- Asset Finance: They offer financing options to customers for acquiring new and used commercial vehicles, construction equipment and tractors, all of which are income generating assets for their customers.
- Consumer Finance:They offer loans to individuals seeking to fulfil their personal or household needs.
As of March 31, 2025, with over 80% of the branches located outside the 20 largest cities in India.As at March 31, 2025, The company had a pan-India network of 1,771 branches in 1,170 towns and cities across 31 States and Union Territories, with over 80% of the branches located outside the 20 largest cities in India by population.
As at Fiscals 2025, 2024 and 2023, the company had a total of 60,432, 56,560 and 45,883 employees.
Company Strengths
- Highly granular retail loan book, bolstered by a large and rapidly growing customer base with a focus on serving the underbanked customer segments.
- Large, diversified and seasoned product portfolio with a sustainable track record of diversification, growth and profitability through the cycles.
- Tailored sourcing supported by an omni-channel and digitally powered pan-India distribution network.
- Comprehensive systems and processes contributing to robust credit underwriting and strong collections.
Use of Proceeds
| 1) | Augmentation of the Company’s Tier – I Capital base to meet their Company’s future capital requirements including onward lending under any of the Company’s business verticals i.e. Enterprise Lending, Asset Finance and Consumer Finance. | 2,458.62 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
HDB Financial Services IPO Peer Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| HDB Financial Services Limited | 27.40 | 27.30 | 198.80 | - | - | - | Consolidated |
| Bajaj Finance Limited | 26.89 | 26.82 | 155.60 | 34.30 | - | 5.90 | Consolidated |
| Sundaram Finance Ltd. | 170.53 | 170.53 | 1,187.80 | 28.10 | - | 4.00 | Consolidated |
| L&T Finance Limited | 10.61 | 10.57 | 102.50 | 17.90 | - | 1.80 | Consolidated |
| Mahindra & Mahindra Financial Services Ltd. | 18.32 | 18.31 | 154.90 | 14.50 | - | 1.70 | Consolidated |
| Cholamandalam Investment And Finance Company Ltd | 50.72 | 50.60 | 281.50 | 31.40 | - | 5.60 | Consolidated |
| Shriram Finance Limited | 50.82 | 50.75 | 300.30 | 13.00 | - | 2.20 | Consolidated |
Quick Info
| Sector | Financial Services |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹61,253.30 Cr |
| GMP | 0.00 |
Important Dates
| IPO Open | Jun 25, 2025 |
| IPO Close | Jun 27, 2025 |
| Allotment Date | Jun 30, 2025 |
| Credit to Demat | Jul 01, 2025 |
| Listing Date | Tentative: Jul 02, 2025 |
Lead Manager(s)
BNP Paribas
Registrar
Description
- HDB Financial IPO is a book build issue of ₹12,500.00 crores. The issue is a combination of fresh issue of 3.38 crore shares aggregating to ₹2,500.00 crores and offer for sale of 13.51 crore shares aggregating to ₹10,000.00 crores.
- HDB Financial IPO bidding started from Jun 25, 2025 and ended on Jun 27, 2025. The allotment for HDB Financial IPO was finalized on Jun 30, 2025. The shares got listed on BSE, NSE on Jul 2, 2025.
- HDB Financial IPO price band is set at ₹740.00 per share . The lot size for an application is 20. The minimum amount of investment required by an retail is ₹14,000 (20 shares). The lot size investment for sNII is 14 lots (280 shares), amounting to ₹2,07,200, and for bNII, it is 68 lots (1,360 shares), amounting to ₹10,06,400.