HDB Financial Services IPO is fully book build issue and total IPO size is ₹12500 crores. The offering includes a fresh issue worth ₹2500 crores and an offer for sale of ₹10000 crores.
The dates for the HDB Financial Services IPO have not been announced yet. The allotment process is expected to be finalized by [.].
The price band for the HDB Financial Services IPO has not been announced yet. The HDB Financial Services IPO is scheduled to list on BSE, NSE, with a tentative listing date of [.].
Registrar for this IPO is Link Intime India and lead managers for HDB Financial Services IPO are JM Financial, BNP Paribas, BofA Securities India, Goldman Sachs Securities, HSBC Securities and Capital Markets, IIFL Securities, Jefferies India, Morgan Stanley India Company, Motilal Oswal Investment Advisors, Nomura Financial Advisory and Securities, Nuvama Wealth Management, UBS Securities India.
IPO Schedule
| IPO Open Date | - |
|---|---|
| IPO Close Date | - |
| IPO Allotment Date | - |
| Refund Initiation | - |
| Share credit in Demat | - |
| Listing Date | - |
Key Details
| Price Band | TBA |
|---|---|
| Lot Size | TBA |
| Face Value | ₹10 Per Equity Share |
| Total Issue Size | ₹12,500.00 Crores |
| Fresh Issue | ₹2,500.00 Crores |
| OFS Issue | ₹10,000.00 Crores |
| Issue Type | Fresh Issue and Offer for Sale |
| Listing At | BSE, NSE |
Share Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB | 50% |
| Retail | 35% |
| NII/HNI | 15% |
About HDB Financial Services Company
HDB Financial Services, a leading, diversified retail-focused NBFC in India, caters to a growing customer base with a wide range of lending products. As of September 30, 2024, the company served 17.5 million customers through its 1,772 branches across India. Total Gross Loans stood at ₹98,624.21 crore.
The company operates through three key business verticals: Enterprise Lending, Asset Finance, and Consumer Finance. Secured loans represent 71.08% of the Total Gross Loans. For Fiscal 2024, HDB Financial Services reported a Profit After Tax of ₹2,460.84 crore, with Return on Average Assets and Return on Average Equity at 3.03% and 19.55% respectively. HDB Financial Services maintains the highest credit ratings (CRISIL AAA and CARE AAA) for its long-term borrowings and maintains a diversified borrowing mix.
HDB Financial Services Financial Details
| Period Ended | 30 Sep 2024 | 30 Sep 2023 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|---|
| Assets | 101960.35 | 78463.83 | 92556.51 | 70050.39 | 62025.94 |
| Revenue | 7890.63 | 6902.47 | 14171.12 | 12402.88 | 11306.29 |
| Profit After Tax | 1172.70 | 1167.73 | 2460.84 | 1959.35 | 1011.40 |
| Net Worth | 14879.33 | 12527.04 | 13742.71 | 11436.97 | 9539.73 |
| Reserves and Surplus | 14085.37 | 11735.39 | 12949.63 | 10645.57 | 8749.29 |
| Total Borrowing | 82676.10 | 61898.70 | 74330.67 | 59630.31 | 53630.81 |
₹ In Crore
Key Performance Indicator
| Basic EPS (in ₹) | Return on Net Worth (RoNW) | Net Asset Value (NAV) | Debt-Equity Ratio | Return on Equity (ROE) | Return on Capital Employed (ROCE) |
|---|---|---|---|---|---|
| 31.08 | NA | 173.3 | NA | 19.55% | NA |
Offer Objectives
This document outlines details concerning the company's Employee Stock Option Scheme (ESOS) 2022 and the objects of the proposed IPO.
ESOS 2022: The company adopted ESOS 2022 to attract and retain talented employees by offering stock options convertible into equity shares. As of the Draft Red Herring Prospectus date, 5,364,520 options were granted, 403,431 vested, and 160,144 exercised.
Key financial data related to these options includes:
- Weighted average fair value of option: ₹183.96 (Fiscal 2022), ₹172.31 (Fiscal 2023), ₹179.70 (Fiscal 2024), and ₹181.94 (From April 1, 2024).
- Weighted average share price: ₹384.32 (Fiscal 2022), ₹447.52 (Fiscal 2023), ₹460.71 (Fiscal 2024), and ₹465.39 (From April 1, 2024).
- Exercise Price: Ranging from ₹213 to ₹533.
Objects of the Offer: The company will not receive any proceeds from the Offer for Sale, and the proceeds received from the Offer for Sale will not form part of the Net Proceeds. The primary purpose of the Fresh Issue is to augment the company’s Tier-I capital base to meet future capital requirements, including onward lending. A portion of the proceeds will cover offer expenses. The gross proceeds are estimated at ₹250 crore.
The net proceeds will be deployed towards augmenting the company’s Tier – I Capital base, 100% of the proceeds will be used to meet the company's future capital requirements including onward lending. This deployment is scheduled for fiscals 2025 and 2026.
Company Details
Address:
Radhika, 2nd Floor, Law Garden Road,
Navrangpura, Ahmedabad 380 009, Gujarat, India
Phone: +91 22 4911 6350
Email: [email protected]
Website: http://www.hdbfs.com
IPO Registrar Details
Link Intime India Private Limited
Phone: +91 810 811 4949
Email: [email protected]
Website: http://www.linkintime.co.in
Offer Prospectus & Documents
Lead Managers
- JM Financial Limited
- BNP Paribas
- BofA Securities India Limited
- Goldman Sachs Securities Private Limited
- HSBC Securities and Capital Markets Private Limited
- IIFL Securities Limited
- Jefferies India Private Limited
- Morgan Stanley India Company Private Limited
- Motilal Oswal Investment Advisors Limited
- Nomura Financial Advisory and Securities Private Limited
- Nuvama Wealth Management Limited
- UBS Securities India Private Limited
