HDB Financial Services, a subsidiary of HDFC Bank, is launching its much-awaited IPO, with a price band fixed between ₹700 to ₹740 per share. As of June 23, 2025, the grey market premium (GMP) is hovering around ₹47-₹48, indicating positive sentiment and potential listing gains of 6-7%. Investors are showing strong interest, although experts recommend evaluating the fundamentals of the company in addition to GMP trends.
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🧭 What’s GMP & Why It Matters?
GMP reflects the price difference between the grey‑market (unofficial) trading level and the IPO issue price.
It’s a widely‑watched sentiment barometer, offering clues on expected listing gains—but it’s unofficial and can change rapidly
📈 Latest GMP Trends for HDB Financial IPO
As of June 23, 2025, GMP stands at around +6.3 %, i.e., approximately ₹47–48 premium over the IPO issue price
A day earlier, GMP had cooled from an earlier peak of ~₹50–51 (+7 %)
A few days prior, sentiment was even stronger—GMP had reached ₹83 (+11 %) suggesting expectations of higher listing gains
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📅 IPO Price Band & Listing Outlook
Issue price band is set between ₹700–740 per share
Therefore, current GMP implies grey‑market pricing around ₹747–788.
This suggests investors anticipate a moderate listing gain upon debut.
DIGI MERCH STORE PRINT ON DEMAND
✅ Caveats & Context
Despite a high grey‑market premium, bankers emphasize IPO pricing is based on fundamentals, not GMP, to align with peers like Bajaj and Shriram Finance
GMP is fragile—it’s influenced by sentiment, grey‑market liquidity, and subscription trends—not a formal predictor.
Historically, GMP has been known to fluctuate significantly close to listing day
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🧠 What You Should Consider
A +6 % GMP indicates positive sentiment, but it’s not a guarantee of listing pop or long‑term performance
Factor the company’s financials, risk disclosures, and sector outlook mentioned in its red‑herring prospectus (RHP)
Holders of HDFC Bank shares can access a reserved quota, which may affect grey‑market demand dynamics
Remember GMP can swing sharply—look at grey‑market movements right up to listing and overall market mood
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