The allotment of shares for HDB Financial Services’ much-watched IPO is likely to be finalized today, June 30, with an eye toward listing gains on July 2. Strong investor interest, a ₹12,500 crore issue size, and buzz in the grey market have created a swirl of excitement.
IPO Frenzy Ends With a Bang, Now All Eyes on Allotment
The IPO window closed last Friday after a three-day subscription period that saw a full-blown stampede from investors. Bids flew in from all categories, and not just in trickles—this was a torrent. The final subscription tally stood at an impressive 16.69 times the total offer.
Retail investors, institutional funds, and high-net-worth individuals all dove in headfirst. Even before the allotment day arrived, grey market whisperers were calling for a listing premium of nearly 8 percent.
And now, everyone’s refreshing the screen—waiting for that one line: “Allotted.”
Three Sites, One Goal: Where and How to Check Allotment Status
With thousands of investors anxiously waiting, checking the allotment status is pretty straightforward—provided you land on the right link and remember your application number or PAN.
These pages require either your PAN, Application Number, or DP ID. But don’t forget to tick the “I’m not a robot” box—it’s 2025, but we’re still proving we’re human.
Grey Market Premium Lifts Hopes Ahead of Listing
If the grey market is anything to go by—and let’s be honest, it often is—HDB Financial Services could debut at a premium of ₹57 per share. With the IPO priced at ₹740, the implied listing price is about ₹797. Not bad for a stock that hasn’t even hit the board yet.
This GMP figure comes from several unlisted market dealers who’ve tracked demand. While not officially endorsed, it provides a peek into investor expectations.
Here’s how it stacks up:
| Parameter | Value |
|---|---|
| IPO Issue Price | ₹740 |
| Grey Market Premium (GMP) | ₹57 |
| Estimated Listing Price | ₹797 |
| Expected Listing Gain | ~7.7% |
Who Bought How Much: Breaking Down the Subscription Numbers
So how crazy did it get? Here’s a quick look:
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Total Bids Received: 217.67 crore shares
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Total Shares Offered: 13.04 crore
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Overall Subscription: 16.69x
But let’s go deeper. Here’s how it looked by category:
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Retail Investors: Subscribed 5.72 times
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Qualified Institutional Buyers (QIBs): Subscribed 55.47 times
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Non-Institutional Investors (NIIs): Subscribed 9.99 times
That QIB number—over 55x—is wild. Clearly, big money sees long-term potential here.
What’s Next? Refunds, Demat Credits, and Listing Buzz
Once the allotment is done, the process shifts gears quickly. Those who didn’t make the cut? Expect refunds to roll in the same day, likely by evening. For the lucky ones, shares will be credited to their demat accounts tomorrow, July 1.
And come Tuesday, July 2, HDB Financial Services will debut on the bourses.
The IPO comprised:
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A fresh issue worth ₹2,500 crore
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An Offer for Sale (OFS) of ₹10,000 crore
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Totaling to a ₹12,500 crore issue
This isn’t a small-cap listing. It’s a full-scale, heavyweight debut by an HDFC Bank subsidiary that has long been on the IPO watchlist.
Investor Sentiment Is Riding High, But Listing Will Be the Real Test
HDB Financial’s IPO has, so far, ticked all the right boxes. Demand? Strong. Grey market buzz? Bullish. Market sentiment? Generally optimistic.
But listings have their own logic. A red-hot IPO doesn’t always translate into a blazing debut. Market mood, broader indices, and even last-minute global events can shift things. Still, the early signs are hard to ignore.
Basically, all that’s left is to watch the clock—and hope the markets show up with a smile on July 2.
