Wed Jul 02 03:50:00 UTC 2025: ## HDB Financial Services Makes Strong Market Debut After Oversubscribed IPO

**Mumbai, July 2, 2025** – Shares of HDB Financial Services, a subsidiary of HDFC Bank, began trading on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) today, following a highly successful initial public offering (IPO). The IPO, which closed on June 27th, was oversubscribed by nearly 27 times, indicating strong investor confidence in the non-banking financial company (NBFC).

The issue price was fixed at ₹740 per share, and the grey market premium (GMP) suggested a listing price of around ₹815, reflecting a premium of over 10%. Market analysts predicted a debut with gains of 7-10%.

“HDB Financial Services is finally set to debut on the Indian stock exchanges, and early indicators point to a healthy 8–10% listing gain, reflecting strong investor appetite. The IPO garnered over ₹1.61 lakh crore in bids, underscoring massive institutional and retail interest. We believe the robust response signals market confidence in HDB’s business model, parentage (as an HDFC group company), and long-term growth potential in the NBFC space,” said Prashanth Tapse, Research Analyst at Mehta Equities Ltd.

Bhavik Joshi, Business Head at INVasset PMS, indicated a potential 9-11% “listing pop” based on the current GMP. He cautioned that post-listing performance would depend on the company’s ability to maintain earnings visibility, control credit costs, and the overall performance of the NBFC sector.

The IPO raised ₹12,500 crore. Subscription rates were impressive across all categories, with the retail portion being subscribed 5.72 times, Qualified Institutional Buyers (QIBs) subscribing 55.47 times, and Non-Institutional Investors (NII) subscribing 9.99 times.

Trading commenced at 10:00 AM after a Special Pre-open Session (SPOS). Investors and analysts are closely watching the stock’s performance as it enters the market.

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