HDB Financial Services Limited (Mainboard)

IPO Details 

IPO Reservation

Key Performance Indicators

Financial Details In Crores

About Company

Incorporated: 2007

HDB Financial Services Limited is a retail-focused Non-Banking Financial Company (NBFC).

Key Business Segments :The company operates through three main verticals: Enterprise Lending, Asset Finance, and Consumer Finance.

Additional Services: It also provides Business Process Outsourcing (BPO) services including back-office, collection, and sales support functions, primarily for its Promoter. Additionally, it offers fee-based products such as insurance distribution to its lending customers.

Distribution Model: HDB follows an omni-channel “phygital” distribution model, combining a large branch network, in-house tele-calling teams, and external distribution partners.

Branch & Distribution Network (as of September 30, 2024): The company had 1,772 branches across 1,162 towns in 31 States and Union Territories. Over 80% of these branches are located outside the top 20 cities in India.

Channel Partnerships: It has tie-ups with over 80 brands and original equipment manufacturers (OEMs), and a widespread external distribution network comprising over 140,000 retailers and dealer touchpoints.

Investor FAQs – HDB Financial IPO

Q1. Who is eligible under the Shareholder category?
Anyone who held at least one share of HDFC Bank on or before June 19, 2025.

Q2. How much can I apply for under the Shareholder category?
At the upper price band of ₹740 per share, that means you can apply for up to 260 shares, totaling ₹1,92,400.

Q3. Can I apply in both Shareholder and Retail/HNI categories?
Yes, you can apply in both categories separately to improve your chances of allotment.

Q4. Do I have to apply through the same broker where I hold HDFC Bank shares?
No. You can apply from any broker, including IPO PREMIUM, as long as the demat account you apply from held HDFC Bank shares on the record date.

Q5. What if I sold my HDFC Bank shares after June 19?
You’re still eligible. Eligibility is based on holdings as on June 19 only.

Q6. How can I apply?
You can apply through UPI using your  or apply through the ASBA option from your net banking portal.

Q7. What happens if I apply under the Shareholder category without being eligible?
Your application may be considered invalid or moved to another category at the registrar’s discretion. Please confirm eligibility before applying.

Q8. What happens if I apply under Shareholder category without being eligible as well as Retail?
Both the applications might get rejected as multiple applications are not allowed unless you are eligible in the Shareholder category.

Strength

Strong Promoter Lineage: Backed by HDFC Bank, ensuring brand credibility and funding access.

Diversified Loan Portfolio: Retail and MSME focus helps mitigate sector-specific risks.

Efficient Cost Structure: Among the lowest cost of borrowings in the NBFC sector.

Weakness

High Promoter Dependency: Substantial pre-IPO stake held by HDFC Bank; dilution post-IPO is unclear.

Credit Risk Exposure: Exposure to unsecured and SME lending may lead to NPAs if not managed well.

Economic Sensitivity: Business highly sensitive to interest rate changes and macroeconomic downturns.