HDB Financial Services IPO GMP Live Updates: The ₹12,500 crore IPO of HDFC Bank’s subsidiary, HDB Financial Services, opens for public subscription. Price band, issue size The price band is fixed at ₹700-₹740 per share. At the upper end of the price band, the company is valued at ₹61,400 crore. The IPO is a combination of a fresh issue of equity shares worth Rs 2,500 crore and an Offer For Sale (OFS) of ₹10,000 crore by promoter HDFC Bank. At present, HDFC Bank holds a 94.36% stake in HDB Financial Services, a non-banking financial company (NBFC) arm of the bank. Use of funds The company proposes to utilise the proceeds from the fresh issue to strengthen its Tier-I capital base. This will support future capital needs, including additional lending, to support business growth. After the proposed IPO, HDB Financial Services will continue to be a subsidiary of the bank. Listing date The shares are expected to debut on the BSE and NSE on July 2, 2025.