HDB Financial Services Ltd. listed at a premium of nearly 13% over its IPO issue price of Rs 740 on Wednesday. The stock opened at Rs 835 on the NSE and BSE.
Last week, the company's Rs 12,500-crore initial public offering was subscribed nearly 17 times. The issue was among the biggest IPOs by a non-banking financial company in recent years and the largest public offering so far in 2025.
The IPO, which opened on June 25, saw its lowest GMP on day one at Rs 50.5 per share. Interest picked up steadily, with the highest GMP of Rs 68 recorded on June 30, the day share allotment was finalised.
With its Rs 12,500 crore issue, the company now ranks fifth among India’s largest IPOs — behind Hyundai Motor India, LIC, One97 Communications (Paytm), and Coal India.
After a successful debut on the stock market, HDB Financial Services Managing Director G Ramesh said the focus now will be on corporate governance and deliver the right value to shareholders over the long term.
A subsidiary of HDFC Bank, HDB Financial Services is a prominent non-banking financial company offering a range of services, including lending and business process outsourcing.
The company boasts AAA ratings from CARE and Crisil for its long-term debt and bank facilities, and an A1+ rating for its short-term debt and commercial papers. Following its initial public offering, HDFC Bank's stake in HDB Financial Services will reduce to 74%.
"Today, HDB Financial Services stands ready to start a new chapter as a publicly traded entity. Our kid has become an adult," said HDFC Bank CEO and MD Sashidhar Jagdishan.
"The listing will provide HDB with the independent capital and visibility it needs to accelerate its growth trajectory, pursue new opportunities and further solidify its position in the market... The ringing of the bell today brings the company to a larger scale with new milestones to aim for and to achieve," he also said.
RECOMMENDED FOR YOU
HDB Financial Services: CEO Says Listing At Premium Validates Business Model
Jul 02, 2025
HDB Financial Services Listing Premium: A Look At The Market's Appetite Post The IPO
Jul 02, 2025
Oswal Pumps Shares Debut At 3% Premium Over IPO Price
Jun 20, 2025
Scoda Tubes IPO Subscribed 2.06 Times On Day One; GMP Up
May 28, 2025
POPULAR