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HDB Financial Services Launches ₹12,500 Crore IPO on June 25

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Built on Trust: HDB Financial Strengthens Business Relations Through Client-Centric Approach

HDB Financial’s ₹12,500 Cr IPO Opens June 25; CFO Jaykumar Shah Highlights Client-Centric Strategy and Tech Edge

Price Band Fixed at ₹700–₹740; Promoter HDFC Bank to Offload ₹10,000 Crore via Offer for Sale

BILKULONLINE

Ahmedabad, June 23: HDB Financial Services Limited is set to launch its highly anticipated ₹12,500 crore Initial Public Offering (IPO) on Wednesday, June 25, 2025. The three-day public issue will close on Friday, June 27. Anchor Investor bidding will open a day prior, on Tuesday, June 24.

The IPO comprises a fresh issue of equity shares worth ₹2,500 crore and an Offer for Sale (OFS) of ₹10,000 crore by the company’s promoter, HDFC Bank. The price band has been set between ₹700 and ₹740 per equity share, each with a face value of ₹10.

Investors can bid for a minimum of 20 shares and in multiples thereof.

Diverse Lending Portfolio with Strong Distribution Network

HDB Financial offers a wide range of lending products to a diverse customer base through an extensive omnichannel distribution network. These offerings are structured across three business verticals: Enterprise Lending, Asset Finance, and Consumer Finance.

“Our lending products are designed to cater to evolving customer needs and are delivered through a seamless mix of digital and physical channels,” said Rohit Patwardhan, Chief Credit Officer.

The net proceeds from the fresh issue will be used to strengthen the company’s Tier-I capital base, supporting further expansion in these key verticals, as well as to cover offer-related expenses.

Leadership Shares Strategic Edge and Vision

During a media interaction held in Ahmedabad on Monday, senior executives from HDB Financial and Motilal Oswal underscored the company’s key differentiators.

Jaykumar Shah, Chief Financial Officer, said, “Our client-centric approach backed by responsible lending and a long-term vision is what sets us apart. We don’t just serve; we build enduring financial partnerships.”

He emphasized that HDB’s strong relationship with clients and adaptability in a dynamic market are pillars of its performance.

Subrat Panda of Motilal Oswal Investment Banking, who was also present, added, “HDB’s commitment to sustainable growth, supported by robust governance and high-quality underwriting, positions it uniquely among NBFC peers. This IPO reflects investor confidence in its solid fundamentals.”

The leadership team attributed the company’s continued growth and industry edge to three values—humility, simplicity, and pace with technology.

“We are not just keeping pace with technology—we’re aligning it with purpose. Our agility is matched by our empathy,” Shah added.

Offer Structure and Listing Details

The IPO is being made through the Book Building Process in line with SEBI ICDR Regulations. Not more than 50% of the net offer is reserved for Qualified Institutional Buyers (QIBs), with up to 60% of that portion allocated to Anchor Investors. At least 15% is reserved for Non-Institutional Bidders, and not less than 35% is earmarked for Retail Individual Investors.

Eligible HDFC Bank shareholders and HDB employees will also have reserved portions within the offering. All non-anchor investors must participate via the Application Supported by Blocked Amount (ASBA) mechanism.

The equity shares are proposed to be listed on both BSE and NSE, with NSE as the designated stock exchange. The IPO is being managed by a consortium of Book Running Lead Managers (BRLMs), including JM Financial, BNP Paribas, BofA Securities, Goldman Sachs, HSBC, IIFL, Jefferies, Morgan Stanley, Motilal Oswal, Nomura, Nuvama, and UBS.

 

 

 

 

 

 

 

 

 

 

 

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