HDFC Bank-backed HDB Financial Services made an impressive stock market debut on Wednesday, listing at ₹835 on NSE and BSE—a 12.84% premium over its IPO price of ₹740. The ₹12,500 crore IPO, India's fourth-largest public offering, was oversubscribed 17.65 times during its June 25-27 subscription period.
The retail segment was subscribed 1.51 times, while qualified institutional buyers showed exceptional demand at 58.64 times subscription. The IPO comprised a fresh issue of ₹2,500 crore and an offer for sale of ₹10,000 crore.
Incorporated in 2007, HDB Financial is a retail-focused NBFC that operates through an omni-channel "phygital" model. The company plans to use IPO proceeds to strengthen its Tier-I capital base and support growth across enterprise lending, asset finance, and consumer finance segments.
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