HDB Financial Services mopped up Rs 3,369 crore from anchor investors. The price band for the offer has been fixed at Rs 700-740 per share. At the upper end of the price band, the company is valued at nearly Rs 61,400 crore.
The IPO is a combination of a fresh issue of equity shares worth Rs 2,500 crore and an offer for sale (OFS) of Rs 10,000 crore by the promoter HDFC Bank.
At present, HDFC Bank owns a 94.36% stake in HDB Financial Services, a non-banking financial company (NBFC) arm of the bank.
The company proposes to utilise proceeds from the fresh issue to strengthen its Tier-I capital base. This will support future capital needs, including additional lending, to support business growth.
The HDB Financial IPO is the second biggest in the last three years after South Korean automaker Hyundai’s Rs 27,000-crore offer.
The company’s shares are expected to be listed on the BSE and NSE on July 2.
