HDB Financial IPO is a book-built issue IPO, aiming to raise ₹12,500.00 crore. It comprises a fresh issue of 3.38 crore equity shares aggregating to ₹2,500.00 crore and an offer for sale of 13.51 crore shares aggregating to ₹10,000.00 crore. The bidding window was open from June 25, 2025, to June 27, 2025, with the IPO allotment to be finalised on June 30, 2025. HDB Financial is scheduled to list on BSE and NSE on July 2, 2025.
The IPO was priced at a range of ₹700 – ₹740 per share with a lot size of 20 shares. The public issue received bids for 2,17,78,03,360 shares against 12,33,91,893 shares available, resulting in an overall subscription of 17.65 times. QIBs led the response, subscribing 58.64 times their quota, followed by NIIs at 10.55 times.
HDB Financial' ₹12,500.00 crore IPO, priced between ₹700 – ₹740 per share, was subscribed 17.65 times overall. The IPO comprises a fresh issue of 3.38 crore equity shares aggregating to ₹2,500.00 crore and an offer for sale of 13.51 crore shares aggregating to ₹10,000.00 crore. Bidding took place from June 25 to June 27, 2025, with the HDB Financial IPO allotment status on June 30, 2025. Retail investors subscribed 1.51 and NIIs 10.55 times. Listing is expected on July 2, 2025.
The table below breaks down the HDB Financial share allocation for different categories, highlighting the number of shares and their percentage of the total issue. However, the key focus remains on the quotas allocated to retail investors and HNIs, as they are the most relevant for individual investors.
| Investor Category | Shares Offered |
| QIB Shares Offered | 7,58,78,378 (44.92%) |
| − Anchor Investor Shares Offered | 4,55,27,026 (26.95%) |
| − QIB (Ex. Anchor) Shares Offered | 3,03,51,352 (17.97%) |
| NII (HNI) Shares Offered | 2,27,63,514 (13.48%) |
| − bNII > ₹10L | 1,51,75,676 (8.98%) |
| − sNII < ₹10L | 75,87,838 (4.49%) |
| Retail Shares Offered | 5,31,14,865 (31.44%) |
| Employee Shares Offered | 2,70,270 (0.16%) |
| Other Shares Offered | 1,68,91,892 (10.00%) |
| Total Shares Offered | 16,89,18,919 (100.00%) |
Data Source: NSE
| Category | Subscription (times) |
| Qualified Institutional Buyers | 58.64 |
| Non-Institutional Investors | 10.55 |
| Retail Individual Investors | 1.51 |
| Employee | 6.03 |
| Others | 4.50 |
| Total shares | 17.65 |
Note: The subscription details are as of June 27, 2025
HDB Financial Services Limited was incorporated on 4 June 2007 under the Companies Act, 1956 and commenced operations on 31 July 2007. It is registered with the Reserve Bank of India as a non-deposit taking Non-Banking Financial Company (NBFC) and has been classified as an Upper Layer NBFC under the RBI’s Scale Based Regulations.
The company operates as a diversified financial services provider, offering a wide range of secured and unsecured lending products across three core verticals: Enterprise Lending, Asset Finance, and Consumer Finance. In addition to its lending operations, HDB also provides business process outsourcing (BPO) services, including back-office support, collections, and sales assistance, primarily to its promoter, HDFC Bank Limited.
HDB Financial Services is a subsidiary of HDFC Bank Limited, one of India’s leading private sector banks. Headquartered in Mumbai, the company has established a pan-India presence through an extensive network of branches and service locations, catering to both urban and semi-urban markets.
With a strong focus on customer-centricity, digital innovation, and prudent risk management, HDB aims to deliver comprehensive financial solutions while upholding high standards of governance and operational excellence. The company leverages the HDFC brand’s reputation and ecosystem to drive sustainable growth and expand its reach across diverse customer segments.
Know more about IPO allotment status and check your application details online for the latest updates on share allocation.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jun 27, 2025, 6:21 PM IST
Akshay Shivalkar
Akshay Shivalkar is a financial content specialist who strategises and creates SEO-optimised content on the stock market, mutual funds, and other investment products. With experience in fintech and asset management, he simplifies complex financial concepts to help investors make informed decisions through his writing.
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