HDB Financial IPO: The shares of HDB Financial Services are set for listing on Dalal Street on Wednesday, July 2. The IPO closed for subscription on 27 June, which received 16.69 times the subscription of the offered shares. Investors made bids for 217.7 crore shares against 13.04 crore shares. The price band of the IPO was kept ₹ 700 – ₹ 740 per share. According to the latest signals from unlisted market, it is expected to start well on stock exchanges. Let us tell you what is the latest GMP and investors on listing.
However, HDB Financial also became the second most subscribed Indian IPO worth more than ₹ 10,000 crore. It received a subscription of 16.7x which was more than Coal India (15.28x) but was less than SBI cards (26.54x). The allotment of HDB Financial shares was finalized on Monday, 30 June.
What was the condition of subscription?
HDB Financial received bids worth ₹ 1.61 lakh crore. The reserved part for qualified institutional buyers (QIB) not only received the entire subscription on the last day of the IPO, but also received dialects of more than 55 times of shares on the offer. Non-institutional investors, existing shareholders of HDFC Bank and current employees of HDB Financial also subscribed fiercely. Although the retail quota received full subscription, but this quota was the least subscribed compared to other segments.
What is the latest Gmp and how much can be found listing gains?
According to the latest update, HDB Financial IPO has a gray market premium ₹ 67, which shows a listing gain of 9%. Prashant Tapse of Mehta Equality is expected to have a listing gain of 8–10%, which reflects its strong listing. He said, ‘We believe that the strong response indicates the HDB business model, the original company and the market trust in long -term growth capacity in the NBFC sector. If the listing of shares of HDB Financial stands up expectations, high quality financial services companies will be positive signs for this stock supported by trusted large institution.