HDB Financial IPO: GMP Climbs to ₹83 as Street Awaits Big Listing
- 20th June 2025
- 03:00:00 PM
- 3 min read
Mumbai | June 20 – The street is buzzing ahead of the HDB Financial Services IPO, with the grey market already showing signs of strong demand. The ₹12,500 crore issue opens for public subscription on June 25 and closes on June 27. Anchor investors will get their shot a day earlier, on June 24.
As of now, the IPO’s grey market premium (GMP) is around ₹83 per share, according to market trackers. That’s roughly 11% over the upper price band of ₹740. While GMP isn’t a guarantee, it usually gives a sneak peek into how the IPO might perform on listing day.
IPO Details – Quick Snapshot
- Price band: ₹700–₹740
- Issue size: ₹12,500 crore
- Fresh issue: ₹2,500 crore
- OFS by HDFC Bank: ₹10,000 crore
- Market cap at upper band: ~₹61,400 crore
- Allotment: June 30
- Listing: July 2 (BSE & NSE)
The IPO is a mix of a fresh issue and an offer for sale (OFS). Parent company HDFC Bank, which currently owns 94.36%, is offloading part of its stake through the OFS route. Money raised via the fresh issue—₹2,500 crore—will go into boosting Tier-I capital. That basically means the company wants to bulk up its core capital to meet future lending needs and support growth.
Why the IPO Now?
HDB Financial is a non-banking finance company (NBFC) under HDFC Bank. It deals in loans—both secured and unsecured—to individuals and small businesses. With a strong branch network and a decent loan book, it’s one of the bigger names in the NBFC space. This IPO isn’t just about raising funds—it’s also about ticking a regulatory box. Back in October 2022, the RBI said all top-layer NBFCs must list within 3 years. HDB is in that bucket. This listing move keeps it compliant with the central bank’s rulebook.
GMP Action Heats Up
With GMP hovering at ₹83, the grey market is pricing in a positive debut. While it’s an unofficial market, GMP often reflects investor mood. The actual listing pop, of course, will depend on demand during the subscription window and overall market sentiment.
What’s Next?
- Anchor book opens: June 24
- Public issue opens: June 25
- Closes: June 27
- Allotment: June 30
- Refunds/Credit to demat: July 1
- Listing: July 2
No earnings hype, no social media frenzy—just a big-name NBFC backed by India’s largest private lender coming to market with a mega issue. With global markets shaky and investors becoming choosy, the next few days will show whether this IPO clicks with both big and small players.
So, what’s the move? Subscribed already—or still on the fence?
PL Capital
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
