HDB Financial Services, a subsidiary of HDFC Bank, has raised Rs 3,369 crore from 141 anchor investors ahead of its highly anticipated Rs 12,500-crore IPO, reported news agency PTI.
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Holders of HDB’s unlisted shares face losses as IPO is priced 40% lower
Investors in HDB Financial Services face a surprise. The company has set its IPO price much lower than expected. The IPO price is ₹700-740 per share. This contrasts with the unlisted market price of ₹1,225 on June 18. Earlier, shares traded as high as ₹1,550. Analysts warn early investors may face losses.