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  1. HDB Financial Services ranks 8th: Here are top 7 NBFCs by market capitalisation; check list

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HDB Financial Services ranks 8th: Here are top 7 NBFCs by market capitalisation; check list

Upstox

2 min read | Updated on July 02, 2025, 14:10 IST

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SUMMARY

HDB Financial IPO was the second biggest offer in the past three years after automaker Hyundai's ₹27,000-crore initial share sale.

HDB Financial Services IPO will use funds raised for improving the tier-1 capital base. | Image: YouTube/NSE

HDB Financial Services IPO will use funds raised for improving the tier-1 capital base. | Image: YouTube/NSE

HDB Financial Services shares made a stock market debut at ₹835 per unit, a 12.83% premium on the NSE and BSE. Following the listing, the stock further climbed 0.6% to ₹840 at 1:55 pm. With this, the market capitalisation of the company stands at ₹69,683.61 crore, making it the eighth most valuable non-banking financial company.

Bajaj Finance is the biggest NBFC with a market capitalisation of ₹5,69,166.50 crore, followed by Jio Financial Services at ₹2,06,858.29, Cholamandalam Investment and Finance at ₹1,29,845.51 crore and Shriram Finance at ₹1,27,253.72 crore.

Top NBFCs by market capitalisation: check list

  • Bajaj Finance: ₹5,69,166.50 crore
  • Jio Financial Services: ₹2,06,858.29 crore
  • Cholamandalam Investment: ₹1,29,845.51 crore
  • Shriram Finance: ₹1,27,253.72 crore
  • Muthoot Finance: ₹1,04,862.37 crore
  • SBI Cards: ₹86,812.63 crore
  • Aditya Birla Capital: ₹71,716.42 crore
  • HDB Financial Services: ₹69,683.61 crore

The ₹12,500 crore IPO, which had secured a subscription of 16.69 times, was a fresh issue of shares totalling ₹2,500 crore and an offer-for-sale (OFS) valued at ₹10,000 crore.

Catch all live updates related to HDB Financial IPO listing and share price, HERE.

The funds raised will be used for improving the firm's tier-1 capital base.

The firm, as per its red herring prospectus, also "expects to receive the benefits of the listing of the equity shares on the stock exchanges, including enhancement of our company’s brand name and creation of a public market for our equity shares in India."

It is worth noting that the HDB Financial IPO was the second biggest offer in the past three years after automaker Hyundai's ₹27,000-crore initial share sale.

Sashidhar Jagdishan, the managing director and chief executive officer of HDFC Bank, said that the private bank will continue supporting its unit HDB Financial post-listing as well.

"We will continue to support HDB as it navigates the opportunities and challenges of the public market," he said.

HDB Financial is a diversified, retail-focused NBFC with a focus on three business verticals: asset finance, consumer finance and enterprise lending. It is categorised as an upper-layer NBFC by the Reserve Bank of India (RBI).

To learn more about IPOs, their listings, schedules, and upcoming IPOs, visit our page.
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