HDB Financial Sets IPO Price Band at ₹700–₹740; Eyes ₹12,500 Cr in Landmark Listing

HDB Financial Services Ltd, the NBFC arm of HDFC Bank, has officially set its IPO price band at ₹700 to ₹740 per equity share, marking one of the most anticipated public issues of 2025. The IPO is scheduled to open for subscription from June 25 to June 27, with the anchor book launching on June 24.
Key Highlights:
- Issue Size: ₹12,500 crore
- Fresh Issue: ₹2,500 crore
- Offer for Sale (OFS): ₹10,000 crore by HDFC Bank
- IPO Type: Book-built issue; listing on BSE and NSE
- Retail Quota: 35%  QIB: 50%  HNI: 15%
- Listing Date: Tentatively July 1, 2025
HDB Financial, classified as an NBFC–Upper Layer by RBI, is complying with the central bank’s mandate for large NBFCs to list by September 2025. The company boasts a loan book of ₹98,620 crore and a FY24 profit of ₹2,460 crore, with a CAGR of nearly 56% over the past three years.

The IPO proceeds will be used to strengthen the capital base, support loan book expansion, and enhance digital lending capabilities. With a pan-India presence across 1,700 branches and a diversified portfolio spanning consumer, enterprise, and asset finance, HDB is positioning itself as a formidable player in India’s retail lending space.

Sources: IPO Watch, News18, InvestorZone