Day 2: HDB Financial IPO fully subscribed

HDB FINANCIAL SERVICES’ ₹12,500-crore initial public offering (IPO) was fully subscribed on the second day of bidding as investors lined up for India’s biggest offering so far this year amid signs of a recovery in the capital market.

- REUTERS

The non-bank lender received bids for 1.16 times the shares on offer, exchange data showed at the end of bidding on Thursday.

HDFC Bank, which holds a 94% stake in HDB, is selling shares worth up to ₹10,000 crore, while HDB is issuing new shares worth ₹2,500 crore.