HDB Financial Services Share Price — A Look At How Top 10 Biggest IPOs Fared On Stock Market Debut

HDB Financial Services made its stock market debut on July 2, following its initial public offering (IPO). After a blockbuster IPO, shares of HDB Financial Services listed at a premium of 12.84% on the stock market. The stock opened at Rs 835 on the NSE and BSE.

The mainboard issue was one of the biggest IPOs in recent times. It’s also the largest public offer so far in 2025.

HDB Financial Services is a leading Non-Banking Financial Company (NBFC). It is the lending arm and a wholly-owned subsidiary of HDFC Bank. 

The Rs 12,000-crore IPO is the fifth-largest issue so far in India, following the public offers of Hyundai Motor India, LIC, One97 Communications (Paytm's parent), and Coal India.  

Here’s a look at how some of the biggest IPOs fared on their stock market debut. 

Hyundai Motor India shares were listed at Rs 1,934 apiece on the NSE, a 1.3% discount against the issue price of Rs 1,960, on October 22, 2024. The stock also made its debut at a discount of 1.5% on the BSE at Rs 1,931 apiece.

However, shares of the company closed at Rs 1,819 per share on the listing day, marking a decline of 7.19% over the issue price.

The IPO was a book-building issue of Rs 27,858.75 crore comprising an offer-for-sale (OFS) of 14.22 crore shares. The issue was oversubscribed 2.37 times.

The price band for the IPO was set between Rs 1,865 and Rs 1,960 per share. It was open for subscription from Oct. 15-17, 2024.

Shares of LIC were listed at Rs 872 apiece on the NSE, at a discount of 8.11% against the issue price of Rs 949. On the BSE, the stock also opened lower than the IPO price at Rs 867.2 apiece on May 17, 2022.

On the debut trading day, the stock closed at Rs 875.25 apiece on the NSE, more than 7% lower than the issue price.

The IPO was a book-building issue of Rs 20,557.23 crore. It comprised entirely an OFS portion of 22.14 crore shares. The LIC IPO was subscribed 2.95 times.

The price band for the IPO was fixed in the range of Rs 902 to Rs 949 apiece. The subscription window was open from May 4-9, 2022.

Shares of One 97 Communications, the parent company of Paytm, were listed on the NSE at Rs 1,950 apiece, 9.3% lower than the issue price of Rs 2,150 per share. The stock also made a weak debut on the BSE at Rs 1,955 apiece, at a discount of 9% over the IPO price.

The Paytm IPO was a book-building issue of Rs 18,300 crore, comprising a fresh issue of 3.86 crore shares worth Rs 8,300 crore and an OFS segment of 4.65 crore shares worth Rs 10,000 crore. The issue was oversubscribed 1.89 times.

The price band for the IPO was set between Rs 2,080 and Rs 2,150 apiece. The IPO subscription was open from Nov. 8 to Nov. 10, 2021. Shares of the company were listed on the bourses on Nov. 18, 2021.

Also Read: Will HDB Financial IPO List At A Premium? Here' What Current GMP Indicates

Coal India made a strong debut on the NSE on Nov. 4, 2010, with its stock listing at a premium of nearly 19% at Rs 291 apiece against the issue price of Rs 245 per share. Shares of the state-owned company were also listed at a premium of more than 17% on the BSE at Rs  287.75 apiece.

On the NSE, the stock closed at Rs 342.55 per share, marking an overall gain of nearly 40% over the issue price on the listing day.

The IPO was a book-building offer of Rs 15,199.44 crore. It consisted of an OFS of 63.16 crore shares. The Coal India IPO was subscribed 15.28 times. The price band for the IPO was fixed between Rs 225 to Rs 245 per share.The 

Coal India IPO subscription was open from Oct. 18 to Oct. 21, 2010.  

Food delivery giant Swiggy made a modest debut on the NSE with its shares listing at Rs 420 apiece, at a premium of 7.7% over the issue price of Rs 390, on Nov. 13, 2024. On the BSE, the stock was listed at a premium of 5.6% at Rs 412 apiece.

On the listing day, the stock closed at Rs 464 apiece on the NSE, marking a gain of nearly 18% over the issue price.

The IPO was a book-building offer of Rs 11,327.43 crore. It comprised a fresh issue of 11.54 crore shares, worth Rs 4,499.51 crore, and an OFS portion of 17.51 crore shares, amounting to Rs 6,827.92 crore.

Swiggy IPO was subscribed 3.59 times. The IPO price band was fixed at Rs 371 to Rs 390 per equity share. The subscription window was open from Nov. 6 to Nov.8, 2024.

Shares of the General Insurance Corporation of India were listed on the NSE at Rs 857.5 apiece, marking a discount of 6% against the issue price of Rs 912, on Oct. 25, 2017.  

The stock closed at Rs 874.3 per share, marking a decline of 4.1% compared to its issue price on the listing day.

The IPO was a book-building issue of Rs 11,256.83 crore. It comprised a fresh issue of 1.72 crore shares worth Rs 1,552.67 crore and an offer-for-sale of 10.75 crore shares worth Rs 9,704.16 crore. The issue was subscribed 1.38 times.

The price band for the IPO was fixed in the range of Rs 855 to Rs 912 apiece. The IPO was open for bidding from Oct. 11 to Oct. 13, 2017.

Shares of SBI Cards and Payment Services were listed on the NSE at Rs 661 apiece, at a discount of 12.4% against the IPO price of Rs 755, on March 16, 2020. On the BSE, the stock opened at a discount of 12.8% at Rs 658 apiece.

The shares closed at Rs 681.4 per share on the NSE listing day, marking a decline of 9.7% from the issue price.

The SBI Cards IPO was a book-building issue of Rs 10,340.79 crore. It comprised a fresh issue of 0.66 crore shares worth Rs 499.32 crore and an offer-for-sale of 13.05 crore shares worth Rs 9,841.46 crore. The SBI Cards IPO was subscribed 26.54 times.

The price band for the IPO was set between Rs 750 and Rs 755 per share. The subscription window was open from March 2 to March 5, 2020.  

Reliance Power made a strong debut on the NSE with its shares listing at Rs 530 apiece, at a premium of 17.7% over the issue price of Rs 450, on Feb.11, 2008. The stock opened at a premium of 21.7% on the BSE at Rs 547.8.

On the listing day, shares of the company closed at Rs 372.3 apiece on the NSE, marking a decline of 17.2% from the issue price.

The IPO was a book-building issue of Rs 11,544 crore. It comprised a fresh issue of 26 crore shares. Reliance Power IPO was subscribed 73.04 times. The price band for the IPO was set between Rs 405 and Rs 450 per share. The IPO was open from Jan. 15 to Jan. 18, 2008.  

NPTC Green Energy stock was listed on the NSE at Rs 111.5 per share, at a premium of 3.2% over the issue price of Rs 108 on Nov. 27, 2024. On the BSE, the stock opened at a premium of 3.33% at Rs 111.6 apiece.

Shares of the company closed 12.6% above the issue price at Rs 121.65 apiece on the NSE on the listing day.

The IPO was a book-building issue worth Rs 10,000 crore. It comprised a fresh issue of 92.63 crore shares. The IPO was subscribed 2.55 times.

The NTPC Green Energy IPO price band was between Rs 102 and Rs 108 per share. The subscription window was open from Nov. 19 to Nov. 22, 2024.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.