HDB Financial IPO records 2nd-highest subscription
HDB Financial Services, the lending arm of HDFC Bank, just wrapped up its IPO with a huge 17.65x overall subscription—making it India's second most-subscribed big-ticket IPO after SBI Cards.
Investors put in bids for ₹1.61 lakh crore at a price band of ₹740 per share, with the offer closing on June 27, 2025.
QIBs went all-in; retail investors joined in at 1.49x
Qualified Institutional Buyers (QIBs) went all-in, subscribing 58.64 times their quota.
Non-Institutional Investors followed at 10.55x, while retail investors joined in at 1.49x and employees at 5.72x.
Shareholders also participated with a 4.26x subscription rate. Allotment happens June 30; listing is set for July 2.
HDB offers everything from personal to business financing
HDB Financial offers everything from personal loans to business financing and benefits from HDFC Bank's strong brand and customer base.
The company boasts top credit ratings (AAA for long-term debt), but saw its FY25 profit dip by 11.6% even as total income grew by 15% to ₹16,300 crore—so revenue is rising despite some profit pressure.
Demand beat Tata Technologies's recent IPO but fell short of
The demand beat Tata Technologies's recent IPO but fell short of Bajaj Housing Finance's record earlier this year.
For context, most large Indian IPOs see only about a 1.5-3x subscription rate—so interest in HDB was seriously strong!
After the listing, HDFC Bank will hold a reduced stake of around 74% in its subsidiary.