IPO Details Table
| Parameter | Details |
|---|---|
| Company Name | HDB Financial Services Ltd |
| IPO Open Date | 25 June 2025 |
| IPO Close Date | 27 June 2025 |
| Issue Size | ₹12,500 crore |
| → Fresh Issue | ₹2,500 crore |
| → Offer for Sale (OFS) | ₹10,000 crore |
| Price Band | ₹700 – ₹740 per share |
| Lot Size | 20 shares |
| Post Issue Shares | 83 crore |
| Implied Market Cap | ₹61,388 crore (at upper band) |
| Post-IPO Promoter Stake | 74.2% (down from 94.3%) |
| Public Shareholding Post IPO | 25.8% |
| Use of Funds | Augment Tier I Capital |
🧾 Financial Performance (₹ crore)
| Metric | FY23 | FY24 | FY25 |
|---|---|---|---|
| Revenue from Operations | 12,403 | 14,171 | 16,300 |
| Net Profit | 1,959 | 2,460 | 2,176 |
| Net Interest Margin (NIM) | 8.25% | 7.85% | 7.56% |
| Gross Loan Book | 70,031 | 90,218 | 1,06,878 |
| Gross NPA | 2.73% | 1.90% | 2.26% |
| Net NPA | 0.95% | 0.63% | 0.99% |
| Return on Assets (ROA) | 2.97% | 3.03% | 2.16% |
💼 Loan Portfolio Breakup (FY25)
| Segment | % of Total Loan Book | Amount (₹ cr) |
|---|---|---|
| Enterprise Lending | 39% | 42,006 |
| Asset Finance | 38% | 40,649 |
| Consumer Finance | 23% | 24,230 |
| Secured Loans | 73% | ~77,000 |
| Unsecured Loans | 27% | ~29,800 |
📌 Key Competitive Metrics (FY25)
| Company | NIM | GNPA | ROA | P/B Ratio |
|---|---|---|---|---|
| HDB Financial | 7.56% | 2.26% | 2.16% | 3.4x |
| Bajaj Finance | 12.09% | 1.18% | 5.01% | 5.9x |
| Cholamandalam | 6.76% | 2.81% | 2.38% | 5.7x |
| Shriram Finance | 9.08% | 4.55% | 3.68% | 2.3x |
| L&T Finance | 6.69% | 3.69% | 1.87% | 1.5x |
| M&M Financial | 9.45% | 3.29% | 2.35% | 1.9x |
⚖️ SWOT Analysis
| Strengths | Weaknesses |
|---|---|
| Strong parentage (HDFC Bank) | RBI regulation may reduce promoter stake |
| Diversified loan portfolio | Significant unsecured lending |
| Pan-India rural presence | Profit fell in FY25 vs FY24 |
| Opportunities | Threats |
|---|---|
| Growth in NBFC and retail lending | Regulatory uncertainty and interest rate risks |
| Formalisation of informal credit sector | High competition and economic slowdown risk |