HDB Financial Services IPO to open on June 25; check objectives, key dates and more

HDB Financial IPO: The initial public offering of HDB Financial Services, an upper-layer non-banking financial company (NBFC), will open for subscription on Wednesday, June 25. The issue will end on Friday, June 27.

The ₹12,500 crore IPO consists of new equity shares aggregating to ₹2,500 crore and an offer-for-sale (OFS) component of ₹10,000 crore by promoter HDFC Bank.

The price band will be declared soon.

In an exchange filing to the listing department of the NSE, HDB Financial said, "We wish to inform you that HDB Financial Services Limited has filed the red herring prospectus dated June 19, 2025 with the Registrar of Companies, Gujarat, Dadra and Nagar Haveli at Ahmedabad in connection with the initial public offering of equity shares of face value of ₹10 each comprising a fresh issue of equity shares aggregating up to ₹25,000.0 million and an offer for sale of equity shares aggregating up to ₹100,000.0 million by HDFC Bank Limited, promoter of the company."

HDB Financial Services IPO: Key dates

The bidding for anchor investors will take place on Tuesday, June 24. The basis of allotment will be finalised on June 30, while the listing on the NSE and the BSE will occur on July 2.

At present, HDFC Bank has a 94.36% stake in HDB Financial Services, a non-banking financial company (NBFC).

The offer includes a quota for eligible employees and shareholders of HDFC Bank.

HDB Financial Services IPO: Objectives

The capital raised will be utilised to strengthen its Tier-I capital base to support future capital requirements, including additional lending, to back business growth.

HDB Financial Services is a leading, diversified, retail-focused NBFC, offering a large portfolio of lending products under three business verticals: enterprise lending, asset finance and consumer finance.

The issue's book running leader managers are JM Financial, BoFA Securities India, BNP Paribas, Goldman Sachs (India) Securities, HSBC Securities & Capital Markets, Jefferies India, IIFL Capital Services, Motilal Oswal Investment Advisors, Nomura Financial Advisory And Securities (India), Morgan Stanley India Company, Nuvama Wealth Management, and UBS Securities India.

MUFG Intime India (formerly Link Intime) is the registrar.