HDB FINANCIAL SERVICES LIMITED ₹ 12,500 CRORE IPO TO OPEN ON WEDNESDAY, JUNE 25, 2025
HDB FINANCIAL SERVICES LIMITED IPO TO OPEN ON JUNE 25, 2025
- Price Band fixed at ₹ 700 to ₹ 740 per Equity Share of face value of ₹ 10 each (“Equity Share”).
- The Floor Price is 70 times the face value of Equity Shares and the Cap Price is 74 times the face value of the Equity Shares.
- Bid /Offer will open on Wednesday, June 25, 2025 and close on Friday, June 27, 2025. The Anchor Investor Bidding Data Shall be Tuesday, June 24, 2025.
- Bids can be made for a minimum of 20 Equity Shares and in multiples of 20 Equity Shares thereafter.
Mumbai, June 20, 2025: HDB Financial Services Limited (“HDB Financial” or “The Company”) shall open its Bid / Offer in relation to its initial public offer of Equity Shares on Wednesday, June 25, 2025.
The Anchor Investor Bidding Date shall be Tuesday, June 24, 2025. The Bid/Offer will close on Friday, June 27, 2025. Bids can be made for a minimum of 20 Equity Shares and in multiples of 20 Equity Shares thereafter. (“Bid Details”)
The company has set a price band of ₹700-740 for the fund raise, which is reportedly at a 66 per cent discount to the price of the share in the grey market.
HDB Financial Services on Friday (June 20, 2025) launched a ₹12,500-crore initial public offering (IPO), even as some regulatory issues surrounding the business persist.
The IPO includes a ₹2,500-crore fresh capital raise and ₹10,000 crore offer for sale (OFS) from its parent HDFC Bank, which will lead to a 20 per cent reduction in the promoter shareholding in the entity to 75 per cent.
As per the circular, a bank needs to ensure that none of its subsidiaries undertakes the same activities as it. If a bank wants to continue with such arrangements, its shareholding in the NBFC is capped at 20 per cent.
The Anchor Investor Bidding Date shall be Tuesday, June 24, 2025. The Bid/Offer will close on Friday, June 27, 2025. Bids can be made for a minimum of 20 Equity Shares and in multiples of 20 Equity Shares thereafter. (“Bid Details”)
The total offer size of equity shares with face value ₹ 10 each aggregating up to ₹ 125,000 million [₹ 12,500 crore] comprises of fresh issue of equity shares aggregating up to ₹ 25,000 million [₹ 2,500 crore] and Offer for sale of equity share aggregating up to ₹ 100,000 million [₹ 10,000 crore] . (“Total Offer Size”)
The Company proposes to utilize the net proceeds from the fresh issue towards augmenting Company’s Tier – I Capital base to meet Company’s future capital requirements including onward lending under any of the Company’s business verticals i.e. Enterprise Lending, Asset Finance and Consumer Finance. Further, a portion of the proceeds from the Fresh Issue will be used towards meeting Offer Expenses. (“Objects of the Offer”)
The offer for sale of equity share capital comprises aggregating up to ₹ 1,00,000 million [₹ 10,000 crore] by HDFC Bank Limited (“Promoter Selling Shareholder”). (“Offer for sale”)
The Equity Shares will be offered through the Red Herring Prospectus of the Company dated June 19, 2025 filed with Registrar of Companies, Gujarat, Dadra and Nagar Haveli at Ahmedabad (“RoC”). The equity shares are proposed to be listed on the Stock Exchanges being BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”, and together with BSE, the “Stock Exchanges”). For the purposes of the Offer, NSE is the Designated Stock Exchange.
The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (the “SCRR”), read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process in accordance with Regulation 6(1) of the SEBI ICDR Regulations wherein not more than 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs” and such portion, the “QIB Portion”), provided that the Company in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors and the basis of such allocation will be on a discretionary basis, in consultation with the BRLMs, in accordance with the SEBI ICDR Regulations (the “Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the price at which allocation is made to Anchor Investors (“Anchor Investor Allocation Price”). In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (other than the Anchor Investor Portion) (the “Net QIB Portion”).
Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, subject to valid Bids being received at or above the Offer Price, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, Equity Shares allocated on a proportionate basis to Eligible Employees, Bidding in the Employee Reservation Portion and Eligible HDFC Bank Shareholders Bidding in the HDFC Bank Shareholder Reservation Portion subject to valid Bids being received at or above the Offer Price.
This document is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration with the United States Securities and Exchange Commission or an exemption from registration or in transactions not subject to the registration requirements under the U.S. Securities Act of 1933, as amended. There will be no public offering of these securities in the United States.
