HDB Financial Services share price today rose 4% following its stock market debut on Wednesday, July 2. HDB Financial Services share price opened at ₹840.70 apiece on the BSE, the stock touched an intraday high of ₹870.50, and an intraday low of ₹840.65 per share.
HDB Financial Services share price made a solid debut on the bourses on July 2. On NSE and BSE, HDB Financial Services share price opened at ₹835 per share, 12.84 % higher than the issue price of ₹740.
HDB Financial Services share price ended HDB Financial Services IPO listing day at ₹840.25 on NSE, a 13.55% premium to the IPO price of ₹740, and at ₹840.90 on BSE, a 13.64% premium.
HDB Financial, backed by a robust parent company, has achieved an impressive market debut, and its success is sure to inspire other companies considering an IPO to explore the public markets,” remarked Mahesh Ojha, assistant vice president of research and business development at Hensex Securities.
Ojha noted that there is significant potential for growth for the lender, highlighting its strong fundamentals, which include low gross non-performing assets, an annual profit growth rate of 5.4%, and an extensive distribution network.
The company, a subsidiary of India’s leading private bank HDFC Bank, offers a range of services including personal, home, vehicle, and gold loans, among others. It was aiming for a valuation of $7.1 billion. The IPO saw heightened interest from qualified institutional buyers such as foreign investors and mutual funds, whose applications exceeded the shares set aside for them by 55 times, added Mahesh Ojha.
