HDB Financial Share Price: Shares of HDB Financial Services, a subsidiary of HDFC Bank, rose over 4.5% on July 3, a day after the NBFC firm was listed on the stock exchanges.
At 9:40 AM on July 3, shares of HDB Financial Services were trading 4.58% higher at ₹879.45 each. The company’s market value is approximately ₹73,000 crore.
In a filing on the evening of July 2, HDFC Bank informed the stock exchanges that it sold 13.51 crore shares of its subsidiary and raising ₹9,814 crore. Following the sale, HDFC Bank retains a 74.19% stake in HDB Financial.
The bank had sold 13,51,35,135 shares, each within the face value of ₹10, as part of the IPO. Following this, its ownership in HDB Financial reduced to 74.19% of the total paid-up equity, according to the filing.
On July 2, shares of HDB Financial Services Ltd closed nearly 14% higher than the issue price of ₹740.
With the begining of stock trading at ₹835 on the BSE, a 12.83% rise over the issue price. During the day, it climbed further to an intraday high of ₹850.45, up 14.92%.
Shares of the non-banking financial company eventually settled at ₹840.90, closing with a gain of 13.63%.
HDB Financial Services’ ₹12,500-crore initial public offering (IPO) was subscribed 16.69 times on the final day of bidding last Friday, driven by strong demand from institutional investors.
HDB Financial Services’ big initial public offering (IPO) had a price range of ₹700 to ₹740 per share.
HDFC Bank’s Managing Director and CEO, Sashidhar Jagdishan, said on Wednesday that the bank will keep supporting its subsidiary, HDB Financial Services, even after it is listed.
HDB Financial Share Price: The company plans to utilise the proceeds from the fresh issue to strengthen its Tier-I capital base, which will help meet future capital requirements, including additional lending to support business growth.
The HDB Financial IPO was the second-largest in the past three years, following South Korean automaker Hyundai’s ₹27,000-crore offering.
HDB Financial Services offers a broad range of financial solutions across enterprise lending, asset finance, and consumer finance segments.
Also Read: India-US trade deal: US-India Trade Deal Talks Intensify Ahead of Trump’s Tariff Decision
