HDB Financial Services’ unlisted shares rose 30.8% in one month following SEBI’s draft IPO approval on June 3, 2025. The company plans to raise Rs 12,500 crore through the IPO, maintaining majority ownership under HDFC Bank.
HDB Financial Services, a key non-banking financial company (NBFC) and subsidiary of HDFC Bank, has seen its unlisted shares rise sharply by 30.8% over the past month, following the Securities and Exchange Board of India’s (SEBI) approval of its draft IPO papers on June 3, 2025.
HDB Financial Services operates in the financial sector, offering a range of lending products and financial services across India. It is majority-owned by HDFC Bank, which holds a 94% stake in the company.
On June 4, at 9:45 AM IST, the unlisted shares were trading at Rs 1,275 each, reflecting a significant upward movement. Over the last year, the shares have gained 17.5%, while the stock of its parent company, HDFC Bank, traded flat at Rs 1,924.8 on the NSE.
The company plans to raise Rs 12,500 crore through the upcoming initial public offering (IPO). This will include fresh equity issuance worth Rs 2,500 crore and an offer-for-sale (OFS) by the promoter of Rs 10,000 crore.
The IPO is part of the company’s compliance with the Reserve Bank of India’s mandate from October 2022, requiring upper-layer NBFCs to be listed on stock exchanges within three years. Post-IPO, HDB Financial Services will remain a subsidiary of HDFC Bank as per regulatory requirements.
