Mumbai: HDB Financial Services, backed by HDFC Bank, collected Rs 3,369 crore from anchor investors before its IPO. This shows strong interest from both Indian and foreign investors.
Famous names like LIC, SBI Mutual Fund, ICICI Prudential, BlackRock, Morgan Stanley, and Goldman Sachs have taken part. The shares were given at Rs 740 each, the highest price in the IPO range. In total, over 4.55 crore shares were given to 141 investors.
IPO opens to the public today
The Rs 12,500 crore IPO opens for public subscription on June 25 and will close on June 27. The price range is set between Rs 700 and Rs 740 per share. Investors can apply for a minimum of 20 shares and in multiples after that.
The IPO includes a fresh issue of shares worth Rs 2,500 crore and an offer for sale (OFS) of Rs 10,000 crore by HDFC Bank. After the IPO, HDB will still be a part of HDFC Bank.
At Rs 740 per share, the company’s total value (market cap) is around Rs 61,400 crore.
What HDB will do with the money?
The company plans to use the fresh Rs 2,500 crore to increase its Tier-I capital. This will help in future growth, including more lending to customers.
HDB offers loans to small businesses and individuals, and also provides asset finance. It was started in 2008 and has grown independently, with its systems and staff separate from HDFC Bank.
Why HDB is listing now
In 2022, the Reserve Bank of India asked large NBFCs to list on stock exchanges within three years. This IPO is part of that rule.
HDFC Bank’s board had already approved the plan last year. The listing of HDB is the second largest IPO in India in the last three years, after Hyundai’s Rs 27,000 crore issue.
What’s next?
After the IPO, HDB shares will be listed on the BSE and NSE on July 2. As of March 2025, the company manages over Rs 1 lakh crore in loans and assets.
The IPO is managed by 12 top investment banks, including Goldman Sachs, Morgan Stanley, Jefferies, HSBC, and others.
Other big IPOs coming soon include Tata Capital, LG, PhonePe, and Lenskart.
