IPO
HDB Financial’s Rs.12,500-Cr IPO oversubscribed 17 times
The initial public offering (IPO) of Mumbai-based HDB Financial Services , the non-bank arm of HDFC Bank, was oversubscribed 16.69 times, led by institutional investors.The portion reserved for qualified institutional buyers (QIBs) got oversubscribed by 55.47 times, while the non-institutional investors’ (NIIS’) segment ended with 9.99 times over-subscription. Retail individual investors subscribed 1.41 times of their allocated portion. The employee category witnessed 5.71 times subscription, while existing shareholders subscribed 4.26 times over their reserved quota.The overall issue size of the IPO is INR 12,500 crore and the price band of the issue was fixed at INR 700-740 per equity share.
For FY24, HDB Financial Services had reported about INR 14,171 Cr in Operating Income and about INR 2,461 Cr in PAT.
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