HDB Financial Services Ltd, a subsidiary of HDFC Bank and one of India's leading non-banking financial companies (NBFCs), is set to launch its highly anticipated Initial Public Offering (IPO), marking the largest NBFC IPO in India to date. The company has received SEBI approval for a ₹12,500 crore IPO, combining a fresh issue and an offer for sale (OFS).
About HDB Financial Services
Incorporated in 2007, HDB Financial Services is a non-deposit-taking NBFC offering a diverse range of secured and unsecured loans across three main segments: Enterprise Lending (39.85%), Asset Finance (37.36%), and Consumer Finance (22.79%). With 1,772 branches across 31 states and union territories as of September 30, 2024, the company serves 17.5 million customers, focusing on underbanked and underserved segments. It also provides business process outsourcing (BPO) services and has partnerships with over 80 brands and 140,000 retailers.
IPO Overview
- IPO Type: Book Built Issue (Fresh Issue + Offer for Sale)
- IPO Size: ₹12,500 crore (Fresh Issue: ₹2,500 crore, OFS: ₹10,000 crore)
- Price Band: To be announced
- Lot Size: To be announced
- Face Value: ₹10 per equity share
- Listing Exchange: BSE & NSE
- Retail Quota: 35%
- QIB Quota: 50%
- HNI Quota: 15%
- Shareholder Reservation: Available for HDFC Bank shareholders (max bid ₹2,00,000)
HDB Financial IPO Schedule
| Event | Date (Tentative) |
|---|---|
| IPO Opening Date | November 2025 |
| IPO Closing Date | November 2025 |
| Basis of Allotment | Last week of November 2025 |
| Refunds Initiated | To be updated |
| Shares credited to Demat | To be updated |
| IPO Listing Date | First week of December 2025 |
Financial Performance Snapshot
| Particulars | FY23 | FY24 |
|---|---|---|
| Total Income (₹ crore) | 12,402.88 | 14,171.12 |
| Net Profit (₹ crore) | 1,959.35 | 2,460.84 |
| Net NPA (%) | 1.4% | 1.1% |
| Capital Adequacy Ratio | 19.5% | 19.3% |
| Loan Book (₹ crore) | 80,000 | 98,600 |
Key Strengths
- Strong Parentage: Backed by HDFC Bank (94.36% stake), enhancing brand trust and funding access.
- Diversified Portfolio: 13 lending products across enterprise, asset, and consumer finance.
- Wide Network: 1,772 branches and partnerships with 140,000 retailers.
- Robust Underwriting: In-house team of 4,500 underwriters and 12,000 collection staff.
- High Credit Rating: AAA/Stable by CRISIL and CARE.
Risk Factors
- Unsecured Loans: 29% of the loan book is unsecured, posing credit risk.
- Regulatory Changes: RBI’s mandate for upper-layer NBFCs to list by September 2025 adds pressure.
- Competition: Faces rivalry from NBFCs like Bajaj Finance and banks.
- Macroeconomic Risks: Interest rate hikes and economic downturns may impact profitability.
- NPAs: Stage-3 loans at 2.1% of gross loans.
Grey Market Premium (GMP)
The Grey Market Premium (GMP) for HDB Financial Services IPO is currently around ₹221 per share, indicating strong investor interest. GMP may rise if the IPO is oversubscribed. Stay tuned to IPOGyan.in for real-time updates.
How to Check Allotment of HDB Financial Services IPO
To check the allotment status of the HDB Financial Services IPO, follow these steps:
- Visit the registrar’s website, Link Intime India Pvt Ltd.
- Select “HDB Financial Services IPO” from the dropdown menu (available post-allotment).
- Enter your PAN, Application Number, or DP Client ID.
- Click “Submit” to view your allotment status.
- Alternatively, check on BSE or NSE websites or your broker’s platform (e.g., Zerodha, Angel One) using your application details.
Allotment is expected to be finalized in the last week of November 2025. You’ll receive notifications via email or SMS from your broker.
How to Apply for HDB Financial Services IPO from Zerodha Kite
Zerodha Kite allows seamless IPO applications using UPI or ASBA. Here’s how:
- Log in to Zerodha Kite (app or web).
- Go to “Portfolio” > “IPO” section.
- Select “HDB Financial Services IPO” from the list.
- Enter the number of lots, price (within the price band), and UPI ID.
- Submit the application and approve the UPI mandate in your UPI app (e.g., Google Pay, BHIM).
- Funds will be blocked in your bank account until allotment.
Ensure your Zerodha account is linked to a bank account supporting ASBA and UPI.
How to Apply for HDB Financial Services IPO from Angel One
Angel One offers an easy IPO application process. Follow these steps:
- Log in to the Angel One app or website.
- Navigate to the “IPO” section under “Trade” or “Invest”.
- Choose “HDB Financial Services IPO”.
- Enter the bid details (lot size, price) and select your UPI ID.
- Confirm the application and approve the UPI mandate in your UPI app.
- Check application status in the “IPO Orders” section.
Angel One will notify you of allotment via email or push notification.
How to Apply for HDB Financial Services IPO from Paytm Money
Paytm Money simplifies IPO applications with UPI integration. Here’s how:
- Open the Paytm Money app and log in.
- Go to the “IPO” tab on the homepage.
- Select “HDB Financial Services IPO”.
- Enter the number of lots and bid price (within the price band).
- Provide your UPI ID and submit the application.
- Annprove the UPI mandate in your UPI app to block funds.
Track your application status in the “IPO” section. Paytm Money will send allotment updates via notifications.
How to Get Allotment of HDB Financial Services IPO (Tips to Improve Chances)
While IPO allotment is not guaranteed, these tips can enhance your chances:
- Apply Early: Submit your application on the first day to avoid last-minute technical issues.
- Use Multiple Applications: Apply through different family members’ demat accounts (one application per PAN).
- Opt for Cut-off Price: Bid at the cut-off price to ensure eligibility across the price band.
- Leverage Shareholder Quota: If you’re an HDFC Bank shareholder, apply under the shareholder reservation category (max ₹2,00,000).
- Apply via UPI/ASBA: Ensure your bank account supports UPI/ASBA for smooth fund blocking.
- Check Application Details: Verify PAN, demat account, and UPI ID to avoid rejections.
Note: Allotment depends on demand and subscription levels, with retail investors having a 35% quota.
Important Links
Stay connected with IPOGyan.in for complete coverage of HDB Financial Services IPO and all upcoming offerings.
Disclaimer: This content is for informational purposes only. Please consult your financial advisor before making investment decisions.
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