By Sagar Patel
Published on:
If you are waiting for successful IPOs like Bajaj Housing Finance and Tata Tech, then your wait is about to end. HDFC Bank has approved the IPO of HDB Financial Services. Under this IPO, the company will issue fresh shares worth Rs 2,500 crore. According to reports, the valuation of this issue is likely to reach between $7-8 billion and it could go public in December.
What does the company do?
HDB Financial Services is a leading NBFC offering a variety of secured and unsecured loan products primarily in the retail sector. The IPO requires approval from the Reserve Bank of India, especially after the circular in October 2022, when the company entered the “top tier” NBFC category.
HDFC Bank holds a 94.64 per cent stake in HDB Financial Services. Currently, bankers are being selected for the IPO. A Moneycontrol report in September said foreign institutions such as Morgan Stanley, Bank of America and Nomura were involved in the process, as well as domestic firms such as ICICI Securities, Axis Capital and IIFL.
The IPO of this company caused a stir
Recently, Bajaj Housing Finance’s IPO received an excellent response, which was subscribed 67 times. This IPO was profitable for investors on the day of listing as its shares were trading at a 135 per cent increase over the issue price. Following this success, there are high expectations among investors regarding the IPO of HDB Financial Services.
Experts believe that the IPO of HDB Financial Services will have a positive impact on the market. If you are thinking of investing in this IPO, you will soon have a great opportunity. Thus, the IPO of HDB Financial Services is not only an investment opportunity, but is also a sign of stability and growth in the market.
I am Sagar Patel, specializing in business news reporting. With a keen focus on economic trends, market analysis, and corporate developments,
