HDB Financial Services, the non-banking finance arm of HDFC Bank, is set to launch India’s largest-ever NBFC IPO, aiming to raise ₹12,500 crore through a combination of a fresh issue of ₹2,500 crore and an offer for sale of ₹10,000 crore by its parent. The HDB Financial Services IPO, opening from June 25 to June 27, is expected to significantly strengthen the company’s capital base and support future growth, while drawing heightened interest from institutional and retail investors alike.
₹55
₹740
₹835.00
Expert Opinions
Market sentiment surrounding the HDB Financial Services IPO is notably positive, driven by the company’s strong association with HDFC Bank, one of India’s most reputable financial institutions. Company strengths include a diverse product portfolio that encompasses personal loans, vehicle loans, and loans against property, supported by a robust loan book of ₹98,600 crore. However, risks and challenges remain, such as exposure to credit risk, regulatory changes in the NBFC sector, and intense competition from established players.
Valuation analysis for HDB Financial Services IPO for FY2025 reveals a healthy Return on Equity (ROE) of 14.72% and a Net Asset Value (NAV) of ₹198.8, reflecting efficient capital utilization and solid underlying asset value. The long-term investment perspective is favorable, supported by sectoral tailwinds, HDB’s expansion plans, and the parent bank’s robust governance, though investors should remain cautious about macroeconomic and sector-specific risks that could impact growth and profitability.
Investor Considerations
Investors evaluating the HDB Financial Services IPO should note its solid company performance and fundamentals, with a robust loan book of ₹1.07 trillion and a profit of ₹2,180 crore in FY25, reflecting steady growth and operational efficiency. The sector outlook is favorable, with the NBFC industry expected to benefit from ongoing economic expansion and rising credit demand, especially in retail and SME lending.
HDB Financial Services IPO valuation for FY2025 features a Price to Book Value of 3.72, a Return on Net Worth (RoNW) of 14.7%, and a high debt/equity ratio of 5.85, which is typical for growth-focused NBFCs but signals higher leverage. Growth prospects are supported by plans to strengthen the capital base and expand the lending portfolio, leveraging HDFC Bank’s brand and resources. Key risk factors include exposure to credit risk, regulatory changes, and macro-economic volatility. For short-term investors, market sentiment and technical factors may be relevant, while long-term investors can benefit from sector tailwinds and the company’s strategic expansion, provided risks are managed effectively.
| Date | GMP | Trend |
|---|---|---|
| 29 Jun 2025 10.55 | ₹55 | Down |
| 28 Jun 2025 13.48 | ₹60 | --- |
| 27 Jun 2025 13.18 | ₹60 | --- |
| 26 Jun 2025 20.05 | ₹60 | --- |
| 25 Jun 2025 14.38 | ₹60 | Down |
| 24 Jun 2025 11.07 | ₹70 | --- |
| 23 Jun 2025 15.52 | ₹70 | --- |
| 21 Jun 2025 16.55 | ₹70 | Down |
| 20 Jun 2025 19.52 | ₹95 | Down |
| 19 Jun 2025 11.43 | ₹105 | Down |
| 18 Jun 2025 19.14 | ₹110 | Up |
| 17 Jun 2025 11.10 | ₹90 | Down |
| 16 Jun 2025 18.49 | ₹100 | Up |
| 15 Jun 2025 11.59 | ₹00 | --- |
| 14 Jun 2025 10.51 | ₹00 | --- |
| 13 Jun 2025 19.18 | ₹00 | --- |
| 30 Dec 2024 11.37 | ₹00 | --- |
| 29 Dec 2024 12.14 | ₹00 | --- |
| 28 Dec 2024 11.54 | ₹00 | --- |
| 27 Dec 2024 11.17 | ₹00 | --- |
| 25 Dec 2024 11.16 | ₹00 | --- |
FAQs
The Grey Market Premium showed good accuracy in predicting HDB Financial Services IPO’s listing performance. With a final GMP of ₹55, it indicated a premium of 7.43% over the issue price of ₹740. The stock listed at ₹835, delivering a higher-than-expected gain of 12.84%. This resulted in a prediction error of 5.41%, where the GMP correctly signaled a positive listing but modestly underestimated the actual gains, reflecting decent reliability in this case.
HDB Financial Services IPO Current GMP is ₹55.
HDB Financial Services IPO Expected Returns is 7.43%.
HDB Financial Services IPO estimated listing price is ₹795.