HDB Financial Services IPO GMP: Grey Market Premium Falls Sharply Ahead Of June 25 Launch
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HDB Financial Services IPO GMP: The IPO is a fresh issue of Rs 2,500 crore and an offer for sale (OFS) of Rs 10,000 crore by parent HDFC Bank, which holds 94.3 per cent stake.
HDB Financial Services IPO GMP: The three-day subscription window of HDB Financial Services IPO will open from Wednesday, June 25. The issue will be concluded on Friday, June 27. The price band of the IPO has been fixed at Rs 700-740 per share. The IPO is a fresh issue of Rs 2,500 crore and an offer for sale (OFS) of Rs 10,000 crore by parent HDFC Bank, which holds 94.3 per cent stake.
The public issue is the biggest IPO of 2025 so far, surpassing the Rs 8,750-crore issue by Hexaware Technologies earlier this year.
Investors are keenly watching the grey market price of HDB Financial Services IPO, which reflects the demand for the issue before the launch.
HDB Financial IPO GMP
According to market observers, the GMP of the HDB Financial Services IPO is 6 per cent today, which signals a fall from 11 per cent earlier. GMP as per various market observers stood at Rs 46, a drop from Rs 90.
The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price.
According to the red herring prospectus, 10% of the Rs 12,500-crore IPO will be reserved for shareholders.
As the HDB Financial Services IPO has a shareholders quota, investors must have at least one HDFC Bank share to be eligible for the shareholders category. It will raise their chances of IPO allotment. So, those who have shares of HDFC Bank can participate in the shareholders category in the IPO.
The cut-off date for eligibility in shareholder's quota was June 19, 2025. It means the last day to buy HDFC Bank's shares to be eligible for the HDB financial IPO's shareholders quota was June 18.
Apart from this, nearly 31.44% of the IPO is reserved for retail investors, 44.92% for QIBs, 13.48% for NIIs, and 0.16% for employees.
HDB Financial IPO Key Dates
The company's IPO will remain open for public subscription next week — between June 25 and June 27. Anchor investors will be able to participate on June 24. Its allotment will take place on June 30, while shares will be listed on both BSE and NSE on July 2.
The IPO Objective
The IPO is primarily in response to the Reserve Bank of India's 2022 regulation mandating all large NBFCs categorised as 'upper layer" to be listed on the stock exchange by September 2025.
HDB Financial Services
Founded in 2007, HDB Financial Services provides a broad range of retail loans under three business verticals — enterprise lending, asset finance, and consumer finance. It focuses on both secured and unsecured loans, including personal loans and loans against property, particularly catering to underbanked segments.
As of September 30, 2024, the company had a gross loan book of Rs 98,620 crore, with a CAGR of 20.93% from March 2022. Its FY24 profit stood at Rs 2,460 crore, with a CAGR of 55.9% over FY22-FY24.
In its DRHP, the company noted that its loan book is highly diversified, with the top 20 customers contributing less than 0.36% of total gross loans. The average loan ticket size was around Rs 1.45 lakh as of September 30, 2024.
The company had initially filed its DRHP on October 30, 2023, and received SEBI's approval at the end of May 2025.
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