HDB Financial Services Ltd. is set to make its stock market debut on July 2, following the successful closure of its initial public offering (IPO). The allotment for the HDB Financial IPO was finalised on June 30. Shares of the non-banking financial company (NBFC) will be listed on the NSE and BSE.
It is one of the biggest IPOs by an NBFC in recent times. Ahead of its listing, the IPO investors are keeping a close watch on the grey market premium. Here’s a look at what the GMP indicates about the potential listing price of shares.
HDB Financial Services IPO GMP Live
The latest grey market premium (GMP) for the HDB Financial Services IPO stood at Rs 73 apiece at 10:35 a.m. on July 1. The latest GMP indicates a listing price of Rs 813 per share at a premium of 9.86% apiece, compared to the upper end of the issue price band.
According to recent trends, the highest GMP for the HDB Financial Services IPO is Rs 73, which was recorded today. Earlier, the highest GMP recorded was Rs 68 when the allotment of shares was finalised on June 30. The public issue, which opened on June 25, saw its lowest grey market preium on the same day, of Rs 50.5 per share.
Note: GMP does not represent official data and is based on speculation.
About HDB Financial Services IPO
The HDB Financial Services IPO was a book-building issue worth Rs 12,500 crore. The mainboard IPO comprised a fresh issue of 3.38 crore shares, amounting to Rs 2,500 crore, and an offer-for-sale (OFS) of 13.51 crore shares, aggregating to Rs 10,000 crore.
HDB Financial Services IPO was overall subscribed 16.69 times during the three-day bidding period from June 25 to June 27.
The Qualified Institutional Buyers (QIBs) booked their category 55.47 times, while the Non-Institutional Investors (NIIs) subscribed their quota 10 times. The retail portion of the IPO was booked 1.41 times. The employee’s segment was subscribed 5.72 times.
The price band for the IPO was fixed between Rs 700 and Rs 740 per share.
The company finalised the share allotment status on June 30. Shares will be transferred to the Demat accounts of successful bidders on July 1. Non-allottees will also receive refunds on the same day.
Shares of HDB Financial Services are scheduled to be listed on the NSE and BSE on July 2.
About HDB Financial Services And IPO Objectives
HDB Financial Services is an NBFC primarily engaged in offering various lending services, like retail loans, auto loans and gold loans, among others. It was incorporated in 2007. It’s a subsidiary of the HDFC Bank.
Use Of Proceeds
The NBFC will use proceeds from the IPO to meet its capital requirements in the future.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
. Read more on Markets by NDTV Profit.HDB Financial Services IPO saw an overall subscription of 16.69 times during the three-day bidding period from June 25 to June 27. Read MoreMarkets, IPOs, Trending
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