India's HDB Financial IPO pricing not influenced by 70% premium in 'grey market', bankers say
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 20 2025
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Source: Reuters
HDB Financial IPO Pricing: HDB Financial's initial public offering is priced between 700 to 740 rupees per share, valuing the company at $7.1 billion, despite its shares trading at a higher premium in the grey market. The pricing reflects the company's fundamentals and peer comparisons rather than speculative trends.
Market Context: The Indian IPO market has cooled down in 2025 after a record-breaking 2024, with analysts noting that high IPO prices are leading to lower retail investor demand amid declining market valuations post-COVID-19.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
