HDB Financial Services, which is owned by HDFC Bank, is launching its Initial Public Offering (IPO) on June 25, 2025. This IPO is expected to be the largest ever in India’s non-banking financial company (NBFC) as no other NBFC in India has ever raised as much money from the public by selling shares as HDB Financial Services is expected to do with this IPO. The IPO is in compliance with the RBI’s 2022 mandate, which requires large NBFCs (those with asset size over ₹50,000 crore) to go public by September 2025.
Details Of IPO Structure
This IPO has two parts:
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Fresh issue of shares – New shares worth ₹2,500 crore will be created and sold. This money will go directly to HDB Financial Services. The money from the fresh issue will help HDB increase its capital base, so it can lend more in the future.
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Offer for sale (OFS) –₹10,000 crore will be raised through Offer for Sale (OFS). In Offer for Sale (OFS) existing shares owned by HDFC Bank will be sold. The money raised from this part will go to HDFC Bank, not to HDB Financial.
Key points about HDB Financial Services IPO
- The IPO will open on June 25 and close on June 27. During these days, regular investors can apply to buy shares. Special big investors, called anchor investors, can apply one day earlier, on June 24.
- The shares are likely to be listed on the BSE and NSE on July 2.
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The price of each share in the IPO will be between ₹700 and ₹740. The final price will be decided during the IPO based on investor demand.
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Investors need to buy at least 20 shares or in multiples of 20.
- HDB Financial wants to raise up to ₹12,500 crore by this IPO.
Right now, HDFC Bank owns 94.3% of HDB Financial Services. After the IPO, this percentage will go down, but the bank will still hold a majority stake. Several well-known global and Indian financial institutions are acting as lead managers. These include big names like: Goldman Sachs, Morgan Stanley, HSBC, Motilal Oswal and many more.