HDB Financial Services IPO: India’s largest private bank, HDFC Bank’s subsidiary, HDB Financial Services, completed its anchor round on Tuesday, 24 June 2025. According to an exchange filing, the non-banking financial company (NBFC) raised ₹3,369 crore from anchor investors ahead of the public issue. 

According to the BSE filing, HDB Financial Services allotted a total of 4,55,27,026 or over 4.55 crore equity shares to the anchor investors at an allocation price of ₹740 per share with a face value of ₹10 apiece. 

BlackRock, Government Pension Fund Global, Goldman Sachs, Life Insurance Corp. of India (LIC), ICICI Prudential Mutual Fund, SBI Mutual Fund, Nippon India, Kotak Mutual Fund, Axis Mutual Fund, Fidelity Investments, Abu Dhabi Investment Authority, and HSBC are among the top anchor investors who participated in the anchor round of the HDB Financial Services IPO. 

Out of the total equity share allocation to the anchor investors, the company allocated 1,93,89,500 or more than 1.93 crore shares to 22 domestic mutual funds that applied for the public issue via 65 schemes. 

HDB Financial Services IPO details 

HDB Financial Services is offering a fresh issue of equity shares amounting to ₹2,500 crore along with an offer-for-sale (OFS) component of ₹10,000 crore from the parent company HDFC Bank. 

The IPO is scheduled to open for public bidding on Wednesday, 25 June 2025, and will close on Friday, 27 June 2025. The company fixed the price band for the public issue in the range of ₹700 to ₹740 per share with a lot size of 20 equity shares per lot. 

HDB Financial aims to use the net proceeds from the public issue to strengthen the company’s Tier-I Capital base, enabling the firm to meet forthcoming capital requirements across its business sectors, such as Enterprise Lending, Asset Finance, and Consumer Finance. 

JM Financial Limited, BNP Paribas, Bofa Securities India Limited, Goldman Sachs (India) Securities Private Limited, HSBC Securities & Capital Markets Pvt Ltd, IIFL Capital Services Limited, Jefferies India Private Limited, Morgan Stanley India Company Pvt Ltd, Motilal Oswal Investment Advisors Limited, Nomura Financial Advisory And Securities (India) Pvt Ltd, Nuvama Wealth Management Limited, and UBS Securities India Private Limited are the book-running lead managers for the public issue, while MUFG Intime India Private Limited (Link Intime) is the registrar to the offer. 

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