Kolkata: HDB Financial Services IPO is the biggest IPO of the year so far that is raising Rs 12,500 crore through a fresh issue of shares worth Rs 2,500 crore and an OFS (offer for sale) portion that will raise Rs 10,000 crore. It is a subsidiary of the biggest private sector bank of the country HDFC Bank. On the first day of bidding June 25, retail investors put in bids of 33% of the shares allotted for them.
The overall extent of bidding till the evening of the first day was 40%. Qualified institutions applied for 1% of the shares earmarked for them, non-institutional buyers applied for 81% of their share, bNII (those who bid above Rs 10 lakh) applied for 83% of their quota, sNII (those who bid below Rs 10 lakh) bid 74% of their quota.
According to investorgain, the HDB Fin Services IPO GMP dipped sharply from Rs 74 on June 24 to Rs 50.50 on June 25, the first day of bidding. On the morning of June 26, it remained at the same level. At this GMP, the possible listing gain is 6.82%. The GMP over the past few days was as follows — Rs 50.5 (June 25), Rs 74 (June 24), Rs 66 (June 23), Rs 47.50 (June 22), Rs 49 (June 21) and Rs 91 (June 20). However, it must not be forgotten that GMP is an unofficial indicator that odes not guarantee anything listing gain or loss.
HDB Fin Services has been able to secure a huge Rs 3,369 crore from anchor investors, a day ahead of the public bidding. The list of anchor investors included LIC, ICICI Prudential MF, SBI MF, Nippon India MF, ICICI Prudential Life Insurance, BlackRock, Royal Bank of Canada, Morgan Stanley, Prudential plc, Copthall Mauritius Investment, APG Asset Management, Baillie Gifford, Norway’s Government Pension Fund Global, Goldman Sachs, British multinational Schroder, Fidelity Investments, Abu Dhabi Investment Authority, Societe Generale and Tata Investment Corporation.
HDB Fin Services IPO price band is Rs 700-740. The minimum investable lot consists of 20 shares and will need a minimum application amount of Rs 14,800 at the upper end of the price band. The minimum lot size investment for sNII is 280 shares amounting to Rs 2,07,200. The date of allotment for the HDB Financial IPO is Monday, June 30, 2025 and the shares will list on BSE and NSE on July 2, 2025.
The decision to list HDB Financial Services was due to the Reserve Bank of India’s decision in October 2022 that required NBFCs in the upper layer to list on the stock exchanges within three years.
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