HDB FINANCIAL SERVICES LIMITED₹12,500 CRORE IPO TO OPEN ON WEDNESDAY, JUNE 25, 2025
The Anchor Investor Bidding Date shall be Tuesday, June 24, 2025. The
Bid/Offer will close on Friday, June 27, 2025. Bids can be made
for a minimum of 20 Equity Shares and in multiples of 20 Equity Shares
thereafter. (“Bid Details”)
The Price Band of the
Offer has been fixed at ₹ 700 to ₹
740 per Equity Share.
The total offer size of
equity shares with face value ₹ 10 each
aggregating up to ₹
125,000 million [₹ 12,500 crore]
comprises offresh issue of equity shares aggregating up to ₹
25,000 million [₹ 2,500 crore] and Offer
for sale of equity share aggregating up to ₹
100,000 million [₹ 10,000 crore] . (“Total Offer Size”)
The Company proposes to utilize the net proceeds from the fresh issue towards augmenting Company’s Tier – I Capital base to meet Company’s future capital requirements including onward lending under any of the Company’s business verticals i.e. Enterprise Lending, Asset Finance and Consumer Finance. Further, a portion of the proceeds from the Fresh Issue will be used towards meeting Offer Expenses. (“Objects of the Offer”)
The offer for sale of
equity share capital comprises aggregating up to ₹ 1,00,000 million [₹ 10,000 crore] by HDFC Bank Limited (“Promoter Selling Shareholder”). (“Offer for sale”)
The Equity Shares will
be offered through the Red Herring Prospectus of the Company dated June 19,
2025 filed with Registrar of Companies, Gujarat, Dadra and Nagar Haveli at
Ahmedabad (“RoC”). The equity shares
are proposed to be listed on the Stock Exchanges being BSE Limited (“BSE”)
and National Stock Exchange of India Limited (“NSE”, and together with
BSE,the “Stock Exchanges”).For the purposes of the Offer, NSE is the
Designated Stock Exchange.
The Offer is being made
in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957,
as amended (the “SCRR”), read with Regulation 31 of the SEBI ICDR
Regulations. The Offer is being made through the Book Building Process in
accordance with Regulation 6(1) of the SEBIICDR Regulations wherein not more
than 50% ofthe Net Offer shall be available for allocation on a proportionate
basis to Qualified Institutional Buyers (“QIBs” and such portion, the “QIB Portion”), provided that the Company
in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to
Anchor Investors and the basis of such allocation will be on a discretionary
basis, in consultation with theBRLMs, in accordance with the SEBIICDR
Regulations (the “Anchor Investor
Portion”), of which one-third shall be reserved for domestic Mutual Funds,
subject to valid Bids being received from the domestic Mutual Funds at or above
the price at which allocation is made to Anchor Investors (“Anchor Investor
Allocation Price”). In the event of under-subscription or non-allocation in
the Anchor Investor Portion, the balance Equity Shares shall be added to the
QIB Portion (other than the Anchor Investor Portion) (the “Net QIB Portion”).
Further, 5% of the Net
QIB Portion shall be available for allocation on a proportionate basis to
Mutual Funds only, subject to valid Bids being received at or above the Offer
Price, and the remainder of the Net QIB Portion shall be available for allocation
on a proportionate basis to all QIBs (other than Anchor Investors), including
Mutual Funds, subject to valid Bids being received at or above the Offer Price.
Further, EquityShares allocated on a proportionate basis to Eligible Employees,
Bidding in the EmployeeReservation Portion and Eligible HDFC Bank Shareholders
Bidding in the HDFC Bank Shareholder ReservationPortion subject to valid Bids
being received at or above the Offer Price.
Further, not less than
15% of the Net Offer shall be available for allocation to Non-Institutional
Bidders (“Non-Institutional Category”) of which one-third of the
Non-Institutional Category shall be available for allocation to Bidders with an
application size of more than ₹200,000 and up
to ₹1,000,000 and two-thirds of the Non-Institutional
Category shall be available for allocation to Bidders with an application size
of more than ₹1,000,000 and under-subscription in
either of these two subcategories of the Non-Institutional Category may be
allocated to Bidders in the other sub-category of the Non-Institutional
Category in accordance with the SEBI ICDR Regulations, subject to valid Bids
being received at or above the Offer Price. Further, not less than 35% of the
Net Offer shall be available for allocation to Retail Individual Bidders (“Retail
Category”), in accordance with the SEBI ICDR Regulations, subject to valid
Bids being received from them at or above the Offer Price.
All potential Bidders
(except Anchor Investors) shall mandatorily participate in this Offer only
through the Application Supported by Blocked Amount (“ASBA”) process and shall provide details of their respective bank
account (including UPI ID (defined hereinafter) in case of UPI Bidders (defined
hereinafter) in which the Bid Amount will be blocked by the Self Certified
Syndicate Banks (“SCSBs”) or
pursuant to the UPI Mechanism, as the case may be. Anchor Investors are not
permitted to participate in the Anchor Investor Portion through the ASBA
process. For details, see “Offer Procedure” beginning on page 538 of the RHP.
JM Financial Limited, BNP Paribas, BofA Securities India Limited, Goldman Sachs (India) Securities Private Limited, HSBC Securities and Capital Markets (India) Private Limited, IIFL Capital Services Limited (Formerly known as IIFL Securities Limited) , Jefferies India Private Limited, Morgan Stanley India Company Private Limited, MotilalOswal Investment Advisors Limited, Nomura Financial Advisory and Securities (India) Private Limited, Nuvama Wealth Management Limited, UBS Securities India Private Limited are the Book Running Lead Managers to the offer. (“BRLMs”)
All capitalised terms used herein but not defined shall have the
same meaning as ascribed to them in the RHP.
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