HDB Financial Services IPO Day 2 GMP, Subscription Status, Price, Lot Size, Key Dates – Apply or Avoid?

HDB Financial Services IPO

The HDB Financial Services IPO, a much-anticipated public issue from HDFC Bank’s NBFC arm, entered its second day of bidding on June 26. Backed by strong parentage and market buzz, the IPO has drawn investor interest across retail, institutional, and HNI segments.

HDB Financial IPO GMP Today – What’s the Market Saying?

According to grey market observers, shares of HDB Financial Services Ltd are trading at a premium of ₹75 over the upper price band, signaling positive market sentiment and expectations of healthy listing gains.

HDB Financial IPO Subscription Status (Day 2 – 5:00 PM)

As of Day 2, the IPO has been subscribed 1.16 times overall:

  • Retail Investors: 0.64x

  • Non-Institutional Investors (NII): 2.29x

  • Qualified Institutional Buyers (QIB): 0.90x

Key Details of HDB Financial Services IPO

Here’s everything you need to know before you invest:

IPO Component Details
IPO Open Date June 25, 2025
IPO Close Date June 27, 2025
Price Band ₹700 – ₹740 per share
GMP (Grey Market Premium) ₹75
Lot Size 20 shares per lot
IPO Size ₹12,500 crore
Fresh Issue ₹2,500 crore
Offer for Sale (OFS) ₹10,000 crore
Listing Exchange BSE & NSE
Likely Allotment Date June 30, 2025
Likely Listing Date July 2, 2025

Lead Managers & Registrar

  • Book Running Lead Managers:
    BNP Paribas, JM Financial, Goldman Sachs India, Morgan Stanley India, HSBC, IIFL, UBS, Jefferies, Nomura, Motilal Oswal, Nuvama, BofA Securities, and others.

  • Registrar:
    MUFG Intime India Private Ltd (Link Intime)

HDB Financial Services IPO Review – Subscribe or Skip?

KR Choksey Securities:

Rating: SUBSCRIBE

“At 3.4x TTM P/B, the issue is attractively priced compared to the peer average of 4.4x. Strong parentage, solid ROA, and long-term growth potential make this IPO worth subscribing.”

Sharekhan:

Rating: SUBSCRIBE

“Valuation at ~3.2x/3.4x FY25 P/B (lower/upper band) is fair. Strong brand, high growth runway, and favorable macro outlook offer good listing gains and long-term potential.”

Other Brokerages Also Recommend Subscribe:

  • Aditya Birla Money

  • Bajaj Broking

  • SBI Capital

  • Canara Bank Securities

  • Centrum Wealth

  • Kunvarji Finstock

  • Nirmal Bang, among others

Should You Apply for the HDB Financial IPO?

If you’re seeking:

  • Exposure to a fast-growing NBFC backed by HDFC Bank

  • Potential listing gains

  • Long-term compounding in the financial sector

Then yes, most analysts suggest subscribing to the HDB Financial Services IPO. While valuations are not cheap, they’re reasonable relative to peers like Bajaj Finance, especially considering HDB’s growth potential and the current low credit stress environment.