HDB Financial Services Lists at 13% Premium on NSE & BSE

The subsidiary of HDFC Bank, HDB Financial Services, made a strong debut on Indian stock exchanges today. From the IPO upper price band of ₹740, shares listed at ₹835 per share on NSE and BSE, i.e., a premium of 12.84%. 

The ₹12,500 crore IPO consisted of a ₹10,000 crore offer-for-sale by HDFC Bank and a ₹2,500 crore fresh issue. The IPO attracted 2,17,67,66,380 bids against 13,04,42,855 total shares offered. 

Among all the investor categories, Qualified Institutional Buyers(QIBs) showed the highest interest and subscribed 55.47 times, followed by Non-Institutional Investors 9.99 times, Retail Individual Investors(RIIs) 1.41 times, employees 5.72 times, and shareholders 4.26 times. 

The IPO proceeds will be used to augment the company’s Tier–I Capital Base, meet future capital requirements and support its expansion initiatives. 

HDB Financial Services provides a range of loans and asset finance products, including personal loans, business loans, gold loans, and consumer durable loans, and has a presence across over 1,771 branches nationwide.

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