According to exchange data, the demand for HDB shares is more than 15 times higher than the last time it happened, when Eternal, the parent company of Zomato, raised $1.4 billion in an IPO.
Initial Public Offering (IPO) for HDB Financial Services
Foreign and Indian investors are bidding heavily on HDB Financial Services Ltd.’s $1.5 billion initial public offering, which is expected to be India’s most popular large listing in at least four years.
As of Friday afternoon in Mumbai, the shadow-lending unit of the country’s largest private bank had received bids for just over two billion shares, compared to the 130.4 million shares that were available, according to information on the BSE’s website. Most of the demand came from global investors, domestic mutual funds, and banks.
Individual investors who offered more than 1 million rupees for shares were also some of the stock’s biggest supporters. The part set aside for small investors was also fully subscribed.
Exchange data showed that the demand for HDB shares was more than 15 times higher than the demand for Eternal Ltd.’s $1.4 billion IPO, which was more than 29 times higher.
HDB Financial got 33.7 billion rupees by giving shares to anchor investors like Life Insurance Corp. of India, the largest insurer in India, and domestic mutual funds. Morgan Stanley and Allianz SE were two of the global investors who managed funds.
🔗Official website: https://www.hdbfs.com/