HDB Financial Services IPO Sees Moderate Response on Day Two
By ScanX News Team
HDB Financial Services' ₹12,500-crore IPO has been subscribed 0.37 times overall on its second day. The employee quota is oversubscribed at 1.77 times, while the HDFC Bank shareholder portion is at 0.77 times. The IPO, which includes a fresh issue of ₹2,500 crore and an offer for sale of ₹10,000 crore by HDFC Bank, is priced between ₹700-740 per share. The subscription period is from June 26 to June 27.
*this image is generated using AI for illustrative purposes only.
HDB Financial Services, a subsidiary of HDFC Bank, is witnessing a moderate response to its Initial Public Offering (IPO) as it enters its second day of subscription. The ₹12,500-crore IPO has been subscribed 0.37 times overall, indicating a cautious approach from investors.
IPO Details
The IPO comprises a fresh issue of ₹2,500 crore and an offer for sale of ₹10,000 crore by HDFC Bank. Investors can bid for shares within the price band of ₹700-740 per share.
Subscription Status
As of the second day, the IPO has seen varied interest across different investor categories:
| Category | Subscription Rate |
|---|---|
| Employee Quota | 1.77 times |
| HDFC Bank Shareholder Portion | 0.77 times |
| Overall Subscription | 0.37 times |
Timeline
The IPO opened for subscription on June 26 and is scheduled to close on June 27, giving investors one more day to participate.
Market Implications
The moderate response to HDB Financial Services' IPO could be indicative of current market sentiments or investor caution. As a non-banking financial company (NBFC) and a subsidiary of one of India's largest private sector banks, the performance of this IPO is being closely watched by market participants.
Investors and market analysts will be keenly observing the final subscription figures when the IPO closes, as it could provide insights into the appetite for financial sector stocks in the current economic climate.
Note: Potential investors should conduct their own research and consider their financial goals before making investment decisions.
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