HDB Financial shares to list on stock exchanges tomorrow. Check GMP, listing gain expectation
HDB Financial Services, the non-banking finance arm of HDFC Bank, is set to make its stock market debut on Wednesday, July 2, with grey market signals pointing to a premium of 9% over the issue price. As of Tuesday morning, the grey market premium (GMP) stood at Rs 67, indicating a likely listing at Rs 805, compared to the IPO’s upper price band of Rs 740.
The Rs 12,500 crore public issue, comprising a fresh issue of Rs 2,500 crore and an offer-for-sale of Rs 10,000 crore, witnessed overwhelming institutional demand. By the close of bidding on June 27, the IPO was subscribed 16.69 times overall, with Qualified Institutional Buyers (QIBs) leading the charge, oversubscribing their portion by 55.47 times.
“Institutional investors…
