HDB Financial Services Unlocks Rs 3,369 Crore from Anchor Investors

HDB Financial Services, an arm of HDFC Bank, secured Rs 3,369 crore from anchor investors, as per a report updated on the exchange. This financial boost was achieved through participation from a variety of domestic mutual funds, insurers, and foreign investors, revealed a circular posted on the BSE website.

Among the prominent names participating were Life Insurance Corporation of India, ICICI Prudential Mutual Fund, BlackRock, Morgan Stanley, and Norway's Government Pension Fund Global, each partaking in the anchor round. Abu Dhabi Investment Authority and Fidelity Investments also got allocated shares.

The IPO, running between June 25 to 27, entails a fresh equity share issue worth Rs 2,500 crore and a Rs 10,000 crore offer for sale by HDFC Bank. The IPO, aiming to augment HDB's Tier-I capital base, is valued at Rs 61,400 crore at the higher end of its price band.

(With inputs from agencies.)