HDB Financial Services listing: Shares make strong market debut at 12.84% premium; open at Rs 835 on BSE, NSE – OXBIG NEWS NETWORK-OxBig News Network

HDB Financial Services made a strong debut on the stock exchanges on Wednesday, with its shares listing at Rs 835- a 12.84 per cent premium over the issue price of Rs 740. The stock opened higher by Rs 95 on both the NSE and BSE, reflecting solid investor interest following a heavily subscribed IPO. As of 10.06 AM, the shares were trading around 13.6 per cent higher.A Rs 12,500 crore public issue, comprising a Rs 2,500 crore fresh issue and a Rs 10,000 crore offer-for-sale, was subscribed 16.69 times. Qualified Institutional Buyers (QIBs) led the subscription, with their allocation oversubscribed 55.47 times. However, retail investors remained cautious, subscribing only 1.41 times their quota.“Institutional investors recognize HDB’s structural advantage as a diversified, RBI upper-layer NBFC with HDFC Bank’s distribution muscle,” Tarun Singh, MD and Founder of Highbrow Securities had said.“The 55x QIB bid reflects confidence in its ‘phygital’ presence across Tier 2–4 cities and a 23% loan book CAGR, whereas retail caution mirrors the post-LIC and Paytm skepticism toward large issuances,” he further added. The IPO received over Rs 1.61 lakh crore in bids, according to ET Reports.(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 OXBIG NEWS NETWORK)