HDB Financial ranks as 8th most valuable NBFC
HDB Financial Services hit the stock market with a bang, listing at ₹835 per share—13% higher than its ₹740 issue price—and briefly touching ₹845.75.
The IPO raised ₹12,500 crore and was nearly 17 times oversubscribed, pushing HDB's valuation to a hefty ₹70,198 crore.
That makes it the eighth-largest NBFC in India by market cap.
Strong retail focus and diversified loan book
A part of HDFC Bank, HDB Financial serves over 19 million retail and SME customers across India.
It stands out for its reach in smaller towns—about 70% of its branches are in tier-4 or even tinier locations.
Its loan book is super diversified too; the top 20 borrowers make up just 0.34% of total assets.
Emkay Global has set a target price of ₹900
Brokerage Emkay Global is optimistic about HDB's future, giving it a "Buy" rating with a target price of ₹900.
They're betting on strong growth: assets under management could grow at 20% annually and earnings per share at 27%, helped by lower credit costs and positive economic trends.