New Delhi, July 2 (H.S.) : HDB Financial Services, a subsidiary of HDFC Bank, debuted in the stock market today, generating excitement among IPO investors. Shares were launched at ₹740, and on their entry to the BSE and NSE, they experienced a listing gain of 12.84%, reaching ₹835. Following this, they climbed to ₹849.85 but later corrected to ₹827.15 under selling pressure. Up to 11 a.m., prices stabilised at ₹836.70, yielding a profit of 13.06% for IPO investors.

The IPO, valued at ₹12,500 crore, was open from June 24 to 27 and was oversubscribed 17.65 times overall, with QIBs subscribing 58.64 times. The NII portion was subscribed to 10.55 times, while retail investors subscribed 1.51 times, and employee shares were subscribed to 6.03 times.

The issuance included 25 crore new shares, alongside 13,51,35,135 shares sold via the offer for sale. Proceeds from the new shares will enhance the company's Tier-1 capital. Financially, despite minor fluctuations, the company reported a net profit increase from ₹1,959.35 crore in FY 2022-23 to ₹2,460.84 crore in FY 2023-24, although a slight decline to ₹2,175.92 crore is projected for FY 2024-25, with operating profit growing over 23% annually to reach ₹9,512.37 crore.

Hindusthan Samachar / Jun Sarkar