HDB Financial Services Listed: Stocks make good D Street debut with 13% list
HDB Financial Services List: HDFC Bank subsidiary HDB Financial Services Limited made a nice debut on the stock exchange on Wednesday, July 2, listing nearly 13% of premiums. Listing reflects the solid investor rights and interests in the initial public offering.
On NSE, the stock opens at Rs 835, which is a yield of Rs 740 compared to the issue price of 12.84%. A similar listing was seen on BSE, which also debuted on the stock at Rs 835, converting to the same premium.
ZEE business executive editor Anil Singhvi earlier estimated the price per share of Rs 800-820, while the IPO price is Rs 740. He advises investors to apply for reasonable listing returns while also holding stocks created by long-term wealth.
Singhvi advises short-term investors to stop losses at Rs 780 and delay, while long-term investors can consider buying more stocks if the stock is closer to the IPO price.
“All HDFC Group stocks seem boring, but have always proven to be big wealth creators,” he said.
Please read also:HDB Financial Services IPO Allocation: How to view status online at NSE, BSE, official registrar
HDB Financial Services: Subscription Status
The 125,000 crore IPO (IPO) of HDB Financial Services is the largest ever IPO (NBFC) of India’s non-bank finance company (NBFC), which has subscribed 16.69 times on the last day of the bid on June 27, with the issue’s bid price exceeding the 21766 crore bid price and available in the range of 21766 crore. Zomato-Parent Eternal was subscribed 29 times in 2021.
Qualified Institutional Buyers (QIB) led the subscription, bidding for its retained portion more than 55 times. Non-institutional investors subscribed to 9.98 times the allocated quota, while the retail segment received 1.4 subscriptions.
The IPO will open from June 25 to June 27. It includes fresh stocks worth Rs 25 billion and sold by HDFC Bank (OFS) Rs 10 billion, currently owning 94.3% of the company. The price band for the IPO is set at Rs 700-740 per share, with the minimum application volume of 20 shares (Rs 14,800) and thereafter in multiples.
Please read also:HDB Financial Services IPO ended with 16.7x subscriptions; 10x subscriptions for HNI partial reservations, 1.4 times in retail category
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The net proceeds from the new problem will be used to enhance the HDB’s one-layer capital base to support the company’s future capital needs in key verticals such as asset financing, consumer lending and corporate lending. The move is also designed to ensure compliance with the Reserve Bank of India’s latest capital adequacy guidelines.
HDB Financial is currently expanding its portfolio as part of a broader growth strategy.
About HDB Financial Services Limited
Founded in 2007, HDB Financial Services Limited is a subsidiary of a retail-focused non-bank financial company (NBFC) and HDFC Bank. The company offers a wide range of financial products including personal loans, auto loans, gold loans and consumer durable loans.
In addition, HDB also provides business process outsourcing (BPO) services such as backend support, collection and sales support from HDFC banks, as well as fee-based services such as insurance allocation.
The company follows a “plant” allocation strategy, combining the existence of physical branches with digital channels. Its network includes an extensive network of branches, internal telecommunications teams, as well as external partners and distribution agents.
