HDB Financial Services IPO Makes a Splash Amid Strong Investor Interest

HDB Financial Services, a subsidiary of HDFC Bank, launched its initial public offering with a strong start, garnering 37% subscription on the first day. Investors bid for nearly 4.86 crore shares against an available 13.04 crore shares as per the NSE data.

The offering attracted significant interest from non-institutional investors with 76% subscription, while the retail individual investor segment saw 30% subscription. Meanwhile, the qualified institutional buyers category received 1% subscription. HDB Financial has also secured Rs 3,369 crore from anchor investors.

The Rs 12,500-crore IPO, consisting of a fresh issue of Rs 2,500 crore and a Rs 10,000 crore offer for sale by HDFC Bank, will close on June 27. The company plans to use the funds to bolster its Tier-I capital, aimed at supporting future growth. Shares are anticipated to commence trading on BSE and NSE on July 2.

(With inputs from agencies.)