HDB Financial Services announces IPO price band
HDB Financial Services, backed by HDFC Bank, is launching its IPO with shares priced between ₹700 and ₹740.
The company hopes to raise ₹12,500 crore in total—₹2,500 crore from new shares and up to ₹10,000 crore through HDFC Bank selling part of its stake.
The IPO opens June 25 and closes June 27.
HDB is a subsidiary of HDFC Bank
HDB Financial runs 1,680 branches across India and mainly lends to retail customers and small businesses. They focus on vehicle loans and loans against property.
Money raised from the fresh issue will help boost their lending capacity.
If priced at the top end, the company's valuation could reach nearly ₹61,400 crore.
HDB IPO details
Half of the IPO shares are set aside for big institutional investors, while retail buyers get 35% and others get 15%.
You'll need to buy at least 20 shares if you want in.
A group of major banks is managing the process. If all goes smoothly, HDB's shares should start trading on BSE and NSE by July 2, 2025.