
18.66x
subscribed
HDB Financial Services IPO
18.66x
subscribed
About HDB Financial Services Limited
HDB Financial Services Limited IPO Overview
HDB Financial Services Limited IPO Date
HDB Financial Services IPO will open for subscription on June 25, 2025, and the closing date for the IPO is June 27, 2025. After this, investors are expected to be updated about the allotment status on Monday, June 30, 2025. Investors who have been allotted shares can expect them to be credited to their demat account on July 1, 2025. The shares will be listed on the NSE and the BSE on Wednesday, July 2, 2025.
HDB Financial Services Limited IPO Price Band
The IPO includes both a fresh issue of shares and an offer for sale. The IPO price band has been set between ₹700 to ₹740 per share. Interested investors can choose a price within this band to apply for the IPO.
The IPO is a book-building issue, comprising a fresh issue of ₹2,500 crore and an offer for sale of ₹ 10,000 crore.
The HDB Financial Services IPO listing price will be determined on July 2, 2025. The listing price is the price at which a company’s shares debut on the stock exchanges.
HDB Financial Services Limited IPO Lot Size
The HDB Financial Services IPO details have been declared. The minimum lot size for an application is 20 shares, and the investor would have to apply for a minimum of 1 lot. Meanwhile, the IPO issue size is approximately ₹12,500 crore.
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Strength and Weakness
The company’s customer base grew 1.6x from 1.22 crore in FY23 to 1.92 crore in FY25 with a CAGR of 25.45%. Its granular loan book is diversified across retail segments, with the top 20 customers contributing less than 0.34% of the total loan book, indicating low concentration risk.
With 4,500+ underwriters and 12,500+ collections staff, the company underwrote 95% of loans digitally and collected 95% via digital/banking channels in FY25. Total collections rose to ₹60,191.96 crore in FY25 from ₹49,144.75 crore in FY24, while GNPA stood at 2.26%, NNPA at 0.99%, and the credit cost ratio at 2.14%, among the fourth and fifth lowest in the NBFC peer set.
As of March 31, 2025, the company maintained borrowings of ₹87,400 crore from 20+ banks and institutions. Backed by AAA ratings from CRISIL and CARE, it secured funding at an average borrowing cost of 7.90%, the sixth lowest among NBFC peers. NCDs (41.3%) and term loans (37.7%) formed the largest portions of borrowings, with 46% of maturities due in 1–3 years.
As of March 31, 2025, the company offered 13 lending products across enterprise lending, asset finance, and consumer finance. Over two years, the loan book grew at a CAGR of 23.54% to ₹1,06,880 crore, with 73.01% of our total gross loan book secured by asset-backed collateral as of March 31, 2025. No single product accounted for over 25% of the total gross loan book, underscoring portfolio granularity and risk diversification.
As of March 31, 2025, the company had 1,771 physical branches across 31 states. Over 80% of the branches are located outside India’s 20 largest cities by population, and over 70% are located in Tier 4+ towns. It also leveraged 140,000+ external dealer points and 9.2M app downloads, 3,700+ tele-callers and 8,800+ digitally assisted on-field agents.
About HDB Financial Services Limited
IPO Analysis

IPO Subscription Status
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Frequently asked questions
How to invest in the IPO?
What is the issue size of HDB Financial Services IPO ?
What is 'pre-apply' for HDB Financial Services IPO ?
Which exchanges will HDB Financial Services IPO shares list on?
- Pre-apply22 Jun 2025
- Bidding starts25 Jun 2025
- Bidding ends27 Jun 2025
- Allotment finalisation30 Jun 2025
- Release of funds1 Jul 2025
- Demat transfer1 Jul 2025
- Listing2 Jul 2025