HDB Fin IPO closes with 16.7x over subscription; QIB portion gets 55x
The maiden public issue of HDB Financial Services, which at Rs 12,500 crore is also the largest ever from the non-banking companies segment till date, has closed with strong investor interest on the final day of bidding on Friday. The 12,500-crore IPO of the HDFC Bank subsidiary was subscribed 16.69 times its offer size, according to data from exchanges.
The IPO has received bids for over 217.66 crore shares, as against the offer size of 13.04 crore shares, according to NSE data, making it the most subscribed billion dollar IPO since Zomato-parent Eternal's public issue that was oversubscribed more than 29 times in July 2021.
Qualified institutional buyers took the lead in the subscription race, booking their reserved portion by over 55 times. Non-institutional investors have subscribed their reserved portion nearly 9.98 times. Retail investors booked the portion kept for them over 1.4 times.
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