HDB Financial IPO: IPO will open today, check the latest GMP price and other necessary details
HDB Financial IPO: The IPO of HDFC Bank’s subsidiary company HDB Financial is going to open for subscription today. The IPO of these NBFCs will be closed on Friday, June 27. HDB Financial wants to raise a total of Rs 12,500 crore from its IPO through 16,89,18,918 shares. Through this IPO, 3,37,83,783 fresh shares worth Rs 2500 crore will be issued, while 13,51,35,135 shares worth Rs 10,000 crore will be issued through OFS. The company has fixed a price band of Rs 700 to Rs 740 for each share of Rs 10 face value for its IPO.
What is the price of shares going on in the gray market
There is also a lot of movement in the gray market regarding the shares of HDB Financial. On Wednesday, June 25, at around 6.00 am, the company’s shares were trading at a price of Rs 814 with a premium of Rs 74 (10 percent). However, before the official announcement of IPO details, HDB Financial shares were trading between Rs 1200 to Rs 1350 in the gray market, which was about 70-80% more than the IPO’s upper range of Rs 740 per share. However, after the revelations of pricing, the enthusiasm in the market has reduced.
When will HDFC Bank’s subsidiary be listed in the stock market
Through this IPO, 20 shares will be issued in a lot. Retail investors will have to invest at least Rs 14,800 for a lot. In addition, retail investors can bid for a maximum of 13 lots, for which they will have to invest Rs 1,92,400 and they will get a total of 260 shares in it. After the closure of the IPO on 27 June, the shares can be allotted on Monday, June 30. Share can be credited to investors’ demat accounts on 1 July and finally on July 2, the company can list the stock market.
Disclaimer: This article has been written only for the purpose of information. Before any type of investment or before taking financial risks, consult your financial advisor. India TV will not be responsible for any type of risk.
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