HDB Financial Services IPO GMP Price: What Grey Market Premium Indicates On Second Day Of Subscription?

HDB Financial Services Ltd, a subsidiary of HDFC Bank, launched its much-anticipated Rs 12,500 crore IPO on June 25, 2025, with a price band of Rs 700–740 per share.

The IPO has attracted significant interest in the grey market, with the latest Grey Market Premium (GMP) of Rs 50, as per market tracker data updated at 11:53 AM on June 26.

HDB Financial IPO GMP Today
At this premium, the expected listing price stands at Rs 790, indicating a potential upside of 6.76% from the upper end of the price band. Market experts suggest this reflects positive investor sentiment, despite moderate subscription figures on Day 2.

HDB Financial IPO Subscription Status: Strong NII Interest, Muted QIB Demand
As of the latest NSE update, the IPO received bids for 4.86 crore shares against 13.04 crore on offer. The Retail Individual Investors (RII) category was subscribed 30%, while Non-Institutional Investors (NII) showed stronger interest with 76% subscription. The Qualified Institutional Buyers (QIBs) segment was subscribed only 1% so far.

HDB Financial IPO Structure and Price Details
The IPO comprises a fresh issue of Rs 2,500 crore and an offer for sale (OFS) of Rs 10,000 crore, showing promoter and stakeholder intent to partially exit. The minimum lot size for retail investors is 20 shares, with a base application value of ₹14,000. Experts recommend bidding at the cut-off price, increasing the amount to approximately ₹14,800, to improve chances of allotment.

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HDB Financial IPO IPO Timeline and Listing Plans
Issue Open: June 25–27, 2025
Allotment Date: June 30, 2025 (Monday)
Tentative Listing: July 2, 2025 (Wednesday)
Exchanges: BSE and NSE

HDB Financial Services already secured Rs 3,369 crore from anchor investors, suggesting institutional confidence in its long-term outlook.

About HDB Financial and Book-Running Managers
Established in 2007, HDB Financial Services is a leading retail-focused NBFC, offering a mix of secured and unsecured loans, along with BPO services like collections, sales support, and insurance distribution.

The IPO is managed by a heavyweight consortium of 13 investment banks, including Goldman Sachs (India), Morgan Stanley, Jefferies India, HSBC Securities, BOFA Securities India, JM Financial, Motilal Oswal, and UBS Securities.
 

The registrar to the issue is MUFG Intime India Private Limited (formerly Link Intime).