HDFC Bank’s subsidiary, HDB Financial Services Limited, made a decent debut on the stock exchanges on Wednesday, July 2, listing at nearly a 13 per cent premium. The listing reflected solid investor interest in its maiden public issue. 

On the NSE, the shares opened at Rs 835 apiece, registering a 12.84 per cent gain over the issue price of Rs 740. A similar listing was seen on the BSE, where the stock also debuted at Rs 835, translating to the same premium.

Zee Business Managing Editor Anil Singhvi had earlier projected a listing in the range of Rs 800–820 per share against the IPO price of Rs 740. He recommended investors to apply for reasonable listing gains while also holding the stock for long-term wealth creation. 

Singhvi advised short-term investors to maintain a stop loss at Rs 780 and trail it, while long-term investors could consider buying more shares if the stock moved closer to the IPO price.

“All HDFC group stocks may seem boring but have consistently proven to be big wealth creators,” he said, adding that Zee Business remains bullish on NBFC sector.

HDB Financial Services IPO Allotment: How to check status online on NSE, BSE, official registrar 

The Rs 12,500-crore initial public offering (IPO) of HDB Financial Services—India’s largest-ever IPO by a non-banking financial company (NBFC)—was subscribed 16.69 times on its final day of bidding, June 27. The issue saw bids for over 217.66 crore shares against the offer size of 13.04 crore shares, making it the most subscribed billion-dollar IPO since Zomato-parent Eternal’s public issue in 2021, which was subscribed over 29 times.

Qualified institutional buyers (QIBs) led the subscription, bidding for their reserved portion over 55 times. Non-institutional investors subscribed 9.98 times their allocated quota, while the retail portion was subscribed 1.4 times.

The IPO was open for subscription from June 25 to June 27. It comprised a fresh issue of shares worth Rs 2,500 crore and an offer for sale (OFS) of Rs 10,000 crore by HDFC Bank, which currently holds a 94.3 per cent stake in the company. The price band for the IPO was fixed at Rs 700–740 per share, with a minimum application size of 20 shares (Rs 14,800), and in multiples thereafter.

HDB Financial Services IPO concludes with 16.7 times subscription; HNI portion booked 10x, retail category 1.4 times  

The net proceeds from the fresh issue will be used to bolster HDB’s Tier-I capital base, supporting the company’s future capital requirements across key verticals such as Asset Finance, Consumer Loans, and Enterprise Lending. The move is also aimed at ensuring compliance with the Reserve Bank of India’s latest capital adequacy guidelines.

HDB Financial is currently expanding its asset portfolio as part of a broader growth strategy.

Founded in 2007, HDB Financial Services Limited is a retail-focused non-banking financial company (NBFC) and a subsidiary of HDFC Bank. The company offers a wide range of financial products including personal loans, auto loans, gold loans, and consumer durable loans.

Additionally, HDB provides business process outsourcing (BPO) services such as back-office support, collections, and sales support to HDFC Bank, along with fee-based services like insurance distribution.

The company follows a "phygital" distribution strategy—combining physical branch presence with digital channels. Its network includes a wide network of branches, in-house telecalling teams, and a network of external partners and distribution agents.