HDB Financial IPO Sees ₹1.61 Lakh Cr in Bids — What Are the Allotment Chances & Latest GMP?

That’s exactly what happened with HDB Financial Services' blockbuster IPO. The issue saw the Qualified Institutional Buyer (QIB) quota getting oversubscribed 55.47 times, and the total IPO being oversubscribed by 16.9 times!

Interestingly, pre-IPO investors had picked up HDB shares at ₹1,550 last year. Today, the price band for the IPO is ₹700–₹740 per share, which is nearly half of the earlier price. 

Still, investors were willing to pay almost double the IPO price in the grey market, clearly signaling strong demand. So, how much was subscribed, what are your allotment odds, and what’s the GMP now?

Scroll down to access direct link to check the allotment and listing of the HDB Financial Services IPO?

Subscription Rate of HDB Financial Services IPO

The HDB Financial IPO, which opened for subscription from June 25 to 27, aimed to raise ₹12,500 crore. But the response went through the roof — the IPO attracted bids worth ₹1.52 lakh crore, which is 16x the issue size.

To put this in simple terms:

What Are the Odds of Allotment in the Retail Quota?

In the retail quota, the IPO was subscribed 1.5 times, which means that while one lot per applicant is guaranteed, the rest will be distributed through a lottery system. Here’s the math simplified:

• Reserved Retail Applications: 26,55,745
  
  
• Actual Retail Applications Made: 24,19,916
  
  
• Effective Subscription Rate: 0.91x
   

That’s less than 1x, meaning almost everyone applying in retail quota will likely get at least 1 lot. If you applied for multiple lots, the chances of getting more than one are still slim and decided by lucky draw.

Small HNI Quota: Subscription and Allotment Odds

The Small HNI (High Net-worth Individual) category allows applications up to 14 lots.

• Maximum Applications Allowed: 2,08,000
  
  
• Subscription Rate: 6.23x
  
  
• Allotment Odds: 1 in every 6 investors to get allotment
  
  

This implies that only around 16% of small HNI applicants will receive allotment in this category.

Big HNI Quota: Subscription and Allotment Odds

The Big HNI quota saw a 12x subscription rate. However, allotment here works differently. Unlike the lottery system in retail, this category sees proportionate allotment.

• Adjusted Subscription Rate: 2.5x
  
  
• Allotment Odds: 2 out of every 5 investors
  
  

So, if you’re a big-ticket investor, your chances are better — around 40% may see allotment.

HDFC Shareholder Quota: Subscription & Allotment Odds

This quota is reserved for those who already own shares of HDFC Bank or HDFC Group companies.

• Subscription Rate: 4.5x
  
  
• Allotment Type: Proportionate lottery basis
  
  

What does “proportionate lottery” mean?

Let’s say 10 people apply for 100 shares each (1,000 total), but only 200 shares are available. Each person will receive 20% of what they applied for — i.e., 20 shares. Then, a lottery is conducted for remaining small fractions to fairly distribute the leftover shares.

What Is the Latest GMP in the HDB Financial Services IPO?

According to LiveMint, the Grey Market Premium (GMP) for HDB Financial IPO is currently ₹375.

This suggests that HDB Financial Services shares may list at around:

• ₹830 (IPO upper band) + ₹375 (GMP) = ₹1,205
  
  

That’s a 45% listing gain — a solid figure for investors.

What are the Allotment & Listing Dates for HDB Financial Services IPO?

• Allotment Date: June 30, 2025 (Sunday)
  
  
• Listing Date: July 2, 2025 (Tuesday)
  
  

Investors will get confirmation via email/SMS or can check their allotment status manually.

How to Check HDB Financial Services IPO Allotment – Direct Link

Follow these simple steps to check your allotment status:

Step 1: Visit BSE website on this link - https://www.bseindia.com/investors/appli_check.aspx

Step 2: Click on ‘Equity’ in the Issue Type.

Step 3: Select ‘HDB Financial Services Limited’ in Issue Name from the Drop Down Menu.

Step 4: Enter either Application No. or PAN

Step 5: Verify by ticking on ‘I am not robot’ and click on ‘Search’.

Your HDB Financial Services IPO allotment status will be displayed on the screen.

Conclusion

The HDB Financial IPO has created quite an excitement, with sky-high demand and a promising GMP. While retail investors are likely to get allotment due to under subscription, HNIs may need to cross their fingers. With the listing just around the corner, all eyes are on July 2, when the actual market sentiment will be revealed.

Whether you're in it for listing gains or long-term growth, this IPO has certainly made history. Keep your PAN ready — it’s time to check if you’ve struck IPO gold!

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