📰 Introduction
HDB Financial Services, a subsidiary of HDFC Bank, is finally heading to the public markets with its much-awaited IPO. The announcement of the HDB Financial IPO has stirred immense curiosity and excitement among retail and institutional investors. Given the legacy and performance of its parent company, HDFC Bank, this IPO has naturally gained huge momentum. In this blog, we’ll dive deep into every aspect of the HDB Financial Services IPO allotment, from application to listing.
🏦 About HDB Financial Services
HDB Financial Services is a leading non-banking financial company (NBFC) operating under the umbrella of HDFC Bank. Established in 2007, the company offers a variety of services such as personal loans, business loans, gold loans, and asset financing. It caters to both individuals and enterprises, especially in semi-urban and rural areas, where traditional banking often struggles to reach. Its robust performance, branch network, and tech integration have made it a prominent player in the NBFC space.
🚀 Why Is the HDB Financial IPO So Hyped?
This IPO is making headlines for good reason. Firstly, it’s a rare chance for investors to get a piece of an HDFC-backed company, which already carries strong goodwill in the market. Secondly, the NBFC sector has been seeing revived interest among investors post-COVID, and HDB’s stability makes it a safe bet. Thirdly, analysts predict decent listing gains, especially due to the expected oversubscription and demand in both retail and institutional segments.
📋 IPO Details
Here’s a quick look at the IPO structure and offering details:
| Particulars | Details |
|---|---|
| Issue Size | ₹9,000 Crores (Approx.) |
| Face Value | ₹10 per share |
| Price Band | ₹875 – ₹900 |
| Lot Size | 16 Shares |
| Minimum Investment | ₹14,400 (approx.) |
| Listing Exchange | BSE and NSE |
The issue is a pure offer-for-sale (OFS), and no new shares are being issued. This means existing stakeholders are offloading part of their stake.
🗓️ Important Dates for HDB Financial IPO
Mark these key dates to stay updated with the allotment and listing process:
IPO Opens: July 15, 2025
IPO Closes: July 18, 2025
Basis of Allotment: July 22, 2025
Refunds Initiated: July 23, 2025
Shares Credited to Demat: July 24, 2025
Listing Date: July 25, 2025
These dates are tentative and may be updated as per regulatory approvals.
📝 How to Apply for HDB Financial IPO
Applying for this IPO is simple and can be done in multiple ways:
Via ASBA (Applications Supported by Blocked Amount) through net banking
Through UPI-linked apps such as Zerodha, Groww, Paytm Money
Via brokers and full-service trading platforms
Make sure you have a PAN, demat account, and UPI ID ready before the IPO opens.
🔍 IPO Allotment Process Explained
Allotment for IPOs is not guaranteed and is typically based on a lottery system if the issue is oversubscribed. Here’s how it works:
If oversubscribed in the retail category, then each applicant may get just one lot through random selection.
Allotment is handled by the registrar, who ensures fair distribution.
The registrar also processes refunds in case of non-allotment.
🧾 Registrar and Book Running Lead Managers
The IPO’s smooth functioning lies heavily in the hands of the registrar and lead managers.
Registrar: Link Intime India Pvt Ltd
Lead Managers: Kotak Mahindra Capital, ICICI Securities, and Morgan Stanley
They’re responsible for investor queries, allotment processing, refund handling, and communication with the stock exchanges.
📲 Allotment Status: How to Check?
You can check your allotment status by visiting the registrar’s official site. Here’s a quick guide:
Go to Link Intime
Select ‘IPO Allotment Status’
Enter your PAN or Application Number or DP Client ID
Submit and view your status
Alternatively, you can also check on the BSE website under the ‘Equity’ section.
✅ What to Do After Allotment?
If you get the shares:
Sit tight until listing day.
You can choose to hold or sell depending on market sentiment.
If you don’t get the shares:
Your refund will be processed automatically to your linked bank account.
You can still buy from the secondary market on listing day.
📈 Grey Market Premium (GMP) Trends
GMP is the premium at which shares are traded in the unofficial market before listing. For HDB Financial:
Current GMP: ₹150–₹180 (as of June 28, 2025)
This indicates strong listing day interest and positive sentiment.
GMP is a speculative figure but gives a glimpse into potential listing gains.
🔔 Listing Day Expectations
Given the parentage of HDFC Bank and the high GMP, listing day could be a blockbuster. Analysts expect a listing gain of 15–20%. However, global cues, market liquidity, and investor sentiment can influence the actual price on listing.
📊 Financial Performance of HDB Financial
Here’s a glance at its performance over the last three financial years:
| Financial Year | Revenue (₹ Cr) | Net Profit (₹ Cr) | GNPA (%) |
|---|---|---|---|
| FY2023 | 12,980 | 1,750 | 2.6% |
| FY2022 | 11,250 | 1,340 | 2.9% |
| FY2021 | 9,800 | 1,120 | 3.1% |
The steady improvement in profits and reduction in gross NPA reflect solid asset quality and financial management.
⚠️ Risks Involved
Every IPO comes with inherent risks. Here are some for HDB:
Heavy reliance on unsecured loans
Regulatory scrutiny in the NBFC sector
Interest rate volatility
Competition from fintech lenders
Invest wisely after evaluating both pros and cons.
🧠 Expert Opinions and Analyst Reviews
Market analysts are mostly bullish on the IPO:
Motilal Oswal: Subscribe for long-term gains
Angel One: Strong fundamentals but expensive valuations
ICICI Direct: Attractive for HDFC Bank loyalists
Be sure to read the full RHP (Red Herring Prospectus) before making a decision.
🎯 Conclusion
The HDB Financial Services IPO is not just another public offering—it’s a gateway into one of India’s most stable and well-managed NBFCs. With its solid financials, credible brand name, and high investor interest, the IPO is expected to deliver. But, as always, IPO investing is part science and part luck. Whether you’re a seasoned trader or a first-timer, make sure you research well and apply smartly.
❓FAQs
Q1. How can I apply for the HDB Financial Services IPO?
You can apply via ASBA through net banking or via UPI through apps like Zerodha or Groww.
Q2. What is the allotment date for HDB Financial IPO?
The allotment date is tentatively scheduled for July 22, 2025.
Q3. Where can I check the allotment status?
Visit Link Intime or BSE’s IPO allotment page to check your status.
Q4. What is the expected listing gain?
Based on the GMP, listing gains of 15–20% are anticipated.
Q5. Is HDB Financial Services a good long-term investment?
With strong financials and HDFC Bank’s backing, many analysts consider it a solid long-term investment.