HDB Financial Services IPO: HDFC Bank's arm raises ₹3,369 crore from anchor investors ahead of public issue
According to the BSE filing, HDB Financial Services allotted a total of 4,55,27,026 or over 4.55 crore equity shares to the anchor investors at an allocation price of ₹ 740 per share with a face value of ₹ 10 apiece.
BlackRock, Government Pension Fund Global, Goldman Sachs, Life Insurance Corp. of India (LIC), ICICI Prudential Mutual Fund, SBI Mutual Fund, Nippon India, Kotak Mutual Fund, Axis Mutual Fund, Fidelity Investments, Abu Dhabi Investment Authority, and HSBC are among the top anchor investors who participated in the anchor round of the HDB Financial Services IPO.
LIC at 6.53%, followed by Baillie Gifford Pacific Fund at 3.09%, and Government Pension Fund Global at 2.97% were among the top allotments for the anchor round.
Out of the total equity share allocation to the anchor investors, the company allocated 1,93,89,500 or more than 1.93 crore shares to 22 domestic mutual funds that applied for the public issue via 65 schemes.
'On the valuation front, at a higher price band, the issue is priced at P/BV 3.5x post-issue net worth. The issue seems to be fully priced given the business's fundamentals and ROE of ~15%. Though the company may benefit from the strong HDFC brand going forward,' said Mirae Asset Capital Markets in an IPO note.
As of Tuesday, 24 June 2025, the grey market premium (GMP) of the HDB Financial Services IPO stood at ₹ 74 per share. With the upper price band at ₹ 740 apiece, the shares are expected to be listed at ₹ 814 per share, marking a listing premium of 10%, according to Investorgain data.
Grey market premium (GMP) is an indicator of the investors' willingness to subscribe to a primary issue. The GMP jumped to its current level of ₹ 74 after the anchor round announcement on Tuesday, compared to its earlier level of ₹ 66 per share on Monday, 23 June 2025.
HDB Financial Services is offering a fresh issue of equity shares amounting to ₹ 2,500 crore along with an offer-for-sale (OFS) component of ₹ 10,000 crore from the parent company HDFC Bank.
The IPO is scheduled to open for public bidding on Wednesday, 25 June 2025, and will close on Friday, 27 June 2025. The company fixed the price band for the public issue in the range of ₹ 700 to ₹ 740 per share with a lot size of 20 equity shares per lot.
HDB Financial aims to use the net proceeds from the public issue to strengthen the company's Tier-I Capital base, enabling the firm to meet forthcoming capital requirements across its business sectors, such as Enterprise Lending, Asset Finance, and Consumer Finance.
JM Financial Limited, BNP Paribas, Bofa Securities India Limited, Goldman Sachs (India) Securities Private Limited, HSBC Securities & Capital Markets Pvt Ltd, IIFL Capital Services Limited, Jefferies India Private Limited, Morgan Stanley India Company Pvt Ltd, Motilal Oswal Investment Advisors Limited, Nomura Financial Advisory And Securities (India) Pvt Ltd, Nuvama Wealth Management Limited, and UBS Securities India Private Limited are the book-running lead managers for the public issue, while MUFG Intime India Private Limited (Link Intime) is the registrar to the offer.
Read all stories by Anubhav Mukherjee
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
26 minutes ago
- Time of India
Zaggle Q1 profit jumps 56% YoY to Rs 26 crore; revenue up 32%
Spend management platform Zaggle Prepaid Ocean Services reported a 56.2% year-on-year (YoY) increase in net profit to Rs 26.1 crore for the June quarter, driven by revenue growth across segments and new customer from operations rose 31.6% YoY to Rs 331.9 crore, while adjusted earnings before interest, tax, depreciation, and amortisation (Ebitda) rose 27.9% to Rs 32.7 Hyderabad-based company added several strategic clients during the quarter, including Hindustan Pencils, Apollo Health, Mo Engage, Novozymes, DTDC, CK Birla Healthcare, and Truecaller. Its customer base spans across banking, technology, healthcare, manufacturing, FMCG, infrastructure, and automobile expenses rose to Rs 309.5 crore from Rs 233.9 crore a year earlier, with more than 70% attributed to the cost of point redemption and gift cards. Spending on incentives and cashbacks stood at Rs 95.5 crore.'This is by far our best first-quarter performance, despite being a slower quarter in the year. With strong fundamentals in terms of growth in the total number of customers and users, healthy growth was visible across our revenue streams,' said Raj P Narayanam, founder and executive chairman, company is deploying artificial intelligence (AI) tools for sales automation, customer support, engagement, and bill processing and is also pursuing inorganic growth through investments and July, Zaggle announced it would acquire a 100% stake in fintech startup Rio Money for Rs 22 crore , marking its entry into the consumer credit card space via Unified Payments Interface (UPI). It also acquired spend management startup Dice Enterprises and GreenEdge Enterprises, a loyalty solutions said inorganic growth plans were on track, with portfolio company Mobileware Technologies delivering strong performance. He added that Zaggle would continue to assess merger and acquisition opportunities selectively while exploring adjacent sectors for in 2011, Zaggle operates in the business-to-business-to-customer (B2B2C) segment, offering prepaid card programmes, SaaS-based expense and rewards management tools, and incentive platforms for corporates. It works with multiple banking partners and, as of June 30, 2025, had issued over 50 million prepaid cards and served more than 3,500 corporate clients and 3.39 million of Zaggle closed at Rs 367.3 on the BSE on Thursday.
Time of India
an hour ago
- Time of India
JSW Cement debuts on exchanges, aims to be among top 2 players
JSW Cement , which debuted on exchanges on Thursday, aims to be among the top two cement producers in the country, managing director Parth Jindal said. 'To be a part of the JSW Group, we are not allowed to be in the top five or the top 10. If I have to have a bed in my house where I stay with my father then I have to dream to be in the top two,' he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 15 most beautiful women in the world Undo JSW Steel , the flagship company of the Sajjan Jindal-owned JSW Group, is currently the largest producer of steel in the country. Shares of JSW Cement listed at an over 4% premium to its issue price of Rs 147. After touching an intraday high of Rs 154.70, the shares ended 0.9% lower at Rs 146.05 apiece on the BSE. The company had a market capitalisation of Rs 19,911 crore as on Thursday. It is currently the ninth largest producer of cement in the country with the capacity to produce 20.60 million tonnes of cement annually. Live Events UltraTech Cement is the market leader , followed by Adani Cement in the world's second largest market for the building material. The two players together account for nearly half of the country's production capacity.
Hindustan Times
an hour ago
- Hindustan Times
IRIS Q1 topline grows 10%, investments ramp up in Regtech business
Navi Mumbai, India – August 14, 2025: IRIS Business Services Limited posted a 10% growth in topline for the first quarter of FY 2026 even as the company geared up to scale its SaaS business in the enterprise technology space. 'Post the divestment of the Taxtech business and with the availability of non-dilutive capital, we are fully focused on taking the necessary steps to grow our Suptech and Regtech business lines, both of which have large and attractive opportunities globally,' said K. Balachandran, CEO of IRIS. 'This is an investment phase in the growth trajectory of the company, especially in our Regtech global SaaS business, where we are investing in building the sales and marketing infrastructure, as well as strengthening our products to meet the demands of enterprise customers in the global market,' he added. The Suptech business of the company continued to perform well as revenues grew at 19% YoY with improved margins. The company also received in Q1 FY2026, in partnership with Accenture, a prestigious award from the Qatar Central Bank to build a digital reporting platform. IRIS' new AI enabled automated XBRL report creation product, IRIS Instant, was rolled out in the Malaysian markets and saw early adoption through a much more simplified and intuitive way of creating digital XBRL reports. 'Going forward, regulators are likely to see tools like IRIS Instant making XBRL creation using AI much easier within their jurisdictions. This in turn should enable newer regulators to more easily adopt digital standards like XBRL,' said Rahul Dhamne, Consulting Head, IRIS iFile. On the Regtech side, IRIS Carbon clocked a 10% growth in Annual Recurring Revenue (ARR) on a QoQ basis. 'Our new Disclosure Management product has been well received in the market with over two dozen customers using this solution in the international markets, at a significantly higher annual subscription value compared with pure XBRL reporting module,' said Deepta Rangarajan, Co-founder of IRIS. 'Even as we enhance our offering to make it best-in-class, it is heartening to see that our disclosure management solution has been able to establish clear value for the Office of the CFO both in the mid-market segment as well as in the enterprise segment,' said Anuradha RK, Business Head, IRIS Carbon. Vineet Kandoi, Finance Controller at IRIS concluded 'While the first quarter is typically a subdued period for the Regtech business, this quarter's performance was further impacted by the deferral of a few anticipated orders for our automated data flow solution in the BFSI segment. We expect these to materialize in the coming periods. However, our principal focus is on growing the ARR, and we believe we will see that happening with the investments we are currently making.' About IRIS Business Services Limited IRIS Business Services Limited is a Global RegTech company listed on the BSE (Scrip code: 540735) and the NSE (Symbol: IRIS). The IRIS SupTech suite is leveraged by 30+ regulators worldwide including business registries, central banks and stock exchanges/ securities commissions to simplify and streamline their supervisory operations. IRIS is also a leading provider of financial, ESG and regulatory reporting software to enterprises, banks and financial institutions across the world. For more information, please visit Note to readers: This article is part of HT's paid consumer connect initiative and is independently created by the brand. HT assumes no editorial responsibility for the content, including its accuracy, completeness, or any errors or omissions. Readers are advised to verify all information independently. Want to get your story featured as above? click here!
