HDB Financial Services share price today: HDFC Bank subsidiary becomes 8th most valuable NBFC; market cap at Rs 70,200 crore

Time of India

2 days ago

The HDFC Bank-supported HDB Financial IPO attracted bids worth Rs 1.61 lakh crore. (AI image)
HDB Financial Services share price today: HDB Financial Services made its market debut on July 2, with shares opening at Rs 835 on both BSE and NSE, seeing a 12.8% premium over the IPO issue price.
The HDFC Bank-supported HDB Financial IPO attracted bids worth Rs 1.61 lakh crore, with institutional investors showing stronger interest compared to retail participants. The QIB portion saw 55-times oversubscription, while retail subscription stood at 1.4 times, contributing to an overall subscription rate of nearly 17 times.
HDB Financial Services Share Listing: 8th most valuable NBFC
HDB Financial Services' reached a peak of Rs 845.75 during its first trading day, resulting in a market capitalisation of Rs 70,198 crore, securing its position as India's eighth largest NBFC by market value, according to an ET report.
In the NBFC sector, Bajaj Finance maintains its leadership with a market capitalisation exceeding Rs 5.77 lakh crore, with Jio Financial Services at Rs 2.07 lakh crore and Cholamandalam Investment and Finance at Rs 1.31 lakh crore following.
The sector's other significant entities include Shriram Finance (Rs 1.28 lakh crore), Muthoot Finance (Rs 1.05 lakh crore), SBI Cards (Rs 87,017 crore), and Aditya Birla Capital (Rs 71,324 crore).
HDB's IPO emerged as the second most oversubscribed offering amongst issues exceeding Rs 10,000 crore, ranking just behind the Tata Technologies listing.
Whilst it couldn't exceed the Rs 3 lakh crore subscription milestone achieved by Bajaj Housing Finance IPO, Prashanth Tapse of Mehta Equities noted, according to the report.
The advisory firm has recommended its clients to maintain a long-term position in HDB Financial shares, citing the company's advantageous position to capitalise on India's fundamental credit expansion, particularly in retail and SME lending sectors.
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Emkay Global has the first to start coverage of HDB Financial Services, recommending a 'Buy' rating with Rs 900 target price for June 2026, based on 3x FY27 estimated book value, the ET report said.
The analysis emphasises three crucial advantages:
Broad-Based Business Model: HDB Financial maintains a substantial customer base exceeding 19 million, with a well-distributed lending portfolio across geography and products.
The concentration risk remains low, with top 20 exposures constituting merely 0.34% of total AUM.
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Strategic Focus and Management Continuity: Direct sourcing accounts for 82% of FY25 disbursements, whilst 70% of branches operate in tier-4 and smaller towns. The company's concentration on untapped markets stems from its long-serving leadership team, with numerous executives maintaining tenure beyond ten years.
Enhanced Profit Prospects: The firm anticipates favourable economic conditions, including early rate reductions and lower credit expenses, to boost margins and earnings. Emkay forecasts HDB Financial to deliver 2.7% RoA and 17% RoE by FY28, alongside 20% AUM CAGR and 27% EPS CAGR during FY25-28.
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