HDB Financial Services IPO Receives 1.16 Times Subscription Applications on Day 2

Mumbai, 27 June 2025: HDB Financial Services’ IPO received 1.16 times subscription application by end of day 2.

IPO Overview

• Total Issue Size: ₹12,500 crore
• Price Range: ₹700–₹740 per share
• Total Bids Received: 15.12 crore shares
• Total Shares on Offer: 13.04 crore
• Structure of Issue: ₹2,500 crore in fresh equity + ₹10,000 crore through offer for sale by HDFC Bank

Category-Wise Subscription Breakdown

• Employees: 2.97 times subscribed
• Non-Institutional Investors (NIIs): 2.29 times subscribed
• HDFC Bank Shareholders: 1.69 times subscribed
• Qualified Institutional Buyers (QIBs): 0.90 times subscribed
• Retail Investors: 0.64 times subscribed

Special quotas were set aside for HDFC Bank shareholders (up to ₹1,250 crore or 1.78 crore shares) and employees of HDB Financial (2.85 lakh shares). Investors are required to bid in lots of 20 equity shares.

How the Funds Will Be Utilised

Proceeds from the fresh equity issuance are earmarked to bolster the company’s Tier-I Capital, ensuring sufficient backing for expanding its key business verticals, including Enterprise Lending, Asset Finance, and Consumer Finance. A portion will also go towards covering expenses related to the offer.

Anchor Book Draws Strong Institutional Participation

Ahead of the IPO’s public launch, HDB Financial successfully secured ₹3,368.99 crore by allotting 4.55 crore shares to anchor investors at ₹740 per share. The anchor book featured a line-up of prominent domestic and international institutions:

• Life Insurance Corporation of India (LIC)
• ICICI Prudential Mutual Fund
• Nippon Life India Mutual Fund
• BlackRock
• Axis Mutual Fund
• Aditya Birla Sun Life Mutual Fund
• UTI Mutual Fund
• Schroder International Selection Fund
• Goldman Sachs Funds

Final Hours for Bidding

With today marking the closing day of the IPO, the market awaits the final subscription figures. Given the solid interest from both retail and institutional participants, analysts expect a robust close to what is already a historic NBFC public issue.

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