HDB Financial Services experienced a significant surge, with shares rising over 4% to Rs 874.90 on Thursday following its successful exchange listing a day prior.As of 1.30 pm, it was being traded at Rs 876.3, marking an 18.43% surge over listing price. On Thursday, it opened at a price of Rs 842, highest being Rs 891.90 as of 1.30 pm IST. Traded volume, for the day, at this time was over 25.5 lakh on BSE and 2.53 crore on NSE.The organisation’s market entry on July 2 saw shares being listed at Rs 835 on both NSE and BSE, marking a 12.84% premium above the Rs 740 issue price, indicating robust investor confidence. The company marked a market valuation of Rs 69,758.27 crore.The Rs 12,500 crore IPO consisted of a Rs 2,500 crore fresh issue alongside a Rs 10,000 crore offer-for-sale from existing shareholders. Concluding on June 27, the offering garnered substantial interest, having 16.69 times subscription overall. Qualified Institutional Buyers demonstrated particular enthusiasm, with their portion being subscribed 55.47 times, according to BSe.The offering attracted bids worth more than Rs 1.61 lakh crore. Whilst not reaching Bajaj Housing Finance’s Rs 3 lakh crore-plus bid record, HDB Financial Services’ debut showed strong demand relative to other recent NBFC offerings.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
