HDB Financial IPO 2025: Dates, Price, Review & Allotment Details

Published

5 days ago

June 12, 2025

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Issue Size: ₹12,500 crore (₹2,500 cr fresh issue + ₹10,000 cr Offer‑for‑Sale by HDFC Bank)
Face Value: ₹10 per share
Promoter: HDFC Bank holds ~94.4–94.8% stake pre-IPO
Lead Managers: Major banks including JM Financial, BNP Paribas, BofA, Goldman Sachs, HSBC, IIFL, Jefferies, Morgan Stanley, Motilal Oswal, Nomura, Nuvama, UBS
Registrar: Link Intime India Pvt Ltd

SEBI Approval Received: June 3, 2025
Expected IPO Launch: Mid‑July 2025 (to meet RBI’s upper-layer NBFC listing deadline by Sept 2025)
Listing Timeline: Expected between July–August 2025

Fresh Issue: ₹2,500 crore to bolster Tier‑I capital
OFS: ₹10,000 crore by HDFC Bank to trim stake while retaining operational control

FY	Revenue (₹ cr)	PAT (₹ cr)	EPS (₹)	ROE (%)
FY2022	11,306	1,011	12.80	11.25
FY2023	12,402	1,959	24.76	18.68
FY2024	14,171	2,460	31.08	19.55

Loan book as of Sept 2024: ₹98,600 cr; 17.5 mn customers; 1,772 branches
FY24 net profit of ₹2,460 cr with strong CAGR and stable credit under Upper‑Layer NBFC norms

Strengths:

Largest NBFC IPO of 2025; enhances brand visibility & transparency
Well-diversified lending portfolio: MSME, asset, consumer finance; robust underwriting & collection teams
High-quality peer performance: solid EPS, ROE, and credit ratings

Risks:

Subject to macroeconomic variables: interest rates, inflation, NPAs (~2.1% Gross S3 loan ratio)
Heavy reliance on unsecured lending; promoter concentration from HDFC Bank (>90% control)
Regulatory oversight as an “Upper‑Layer” NBFC with mandatory listing by September 2025

Pros: Leading NBFC franchise, solid growth, strong financials, meets regulatory goals, transparency; potential listing buzz.
Cons: IPO priced at premium; market volatility; sector risks from rising interest rates and NPAs.

Best For: Long-term investors seeking exposure to India’s growing credit market. Short-term investors should assess market sentiment post-listing.

Watch updates: price band, lot size, opening/closing dates (likely released late June/early July).
Track allotment: via Link Intime, BSE/NSE portals, or broker platforms
Review RHP/UDRHP for full valuation metrics (P/B, P/E expectations).

Let me know if you’d like peer comparisons (e.g., Bajaj Finance), updates on GMP, or help tracking allotment and listing performance!