<p>New Delhi: The initial share sale of HDB Financial Services Ltd, a subsidiary of HDFC Bank, subscribed 1.16 times on day two of the offer on Thursday.</p>.<p>The Rs 12,500-crore initial public offer (IPO) received bids for 15,11,23,780 shares against 13,04,42,855 shares on offer, according to details available on the NSE.</p>.<p>Non-institutional investors part attracted 2.29 times subscription, while the quota for qualified institutional buyers (QIBs) subscribed 90 per cent. The portion for retail individual investors (RIIs) received 64 per cent subscription.</p>.HDB Financial Services’ Rs 12,500 crore IPO priced at Rs 700-740.<p>HDB Financial Services mopped up Rs 3,369 crore from anchor investors.</p>.<p>The IPO will conclude on Friday. The price band for the offer has been fixed at Rs 700-740 per share.</p>.<p>At the upper end of the price band, the company is valued at nearly Rs 61,400 crore.</p>.<p>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.</p>.<p>At present, HDFC Bank owns a 94.36 per cent stake in HDB Financial Services, a non-banking financial company (NBFC) arm of the bank.</p>.<p>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.</p>.<p>The HDB Financial IPO is the second biggest in the last three years after South Korean automaker Hyundai's Rs 27,000-crore offer.</p>.<p>JM Financial, BNP Paribas, BofA Securities India, Goldman Sachs (India) Securities, HSBC Securities and Capital Markets (India) Pvt Ltd, IIFL Capital Services, Jefferies India, Morgan Stanley India Company, Motilal Oswal Investment Advisors, Nomura Financial Advisory and Securities (India) Pvt Ltd, Nuvama Wealth Management, and UBS Securities India are managing the company's IPO.</p>.<p>The company's shares are expected to be listed on the BSE and NSE on July 2. </p>
<p>New Delhi: The initial share sale of HDB Financial Services Ltd, a subsidiary of HDFC Bank, subscribed 1.16 times on day two of the offer on Thursday.</p>.<p>The Rs 12,500-crore initial public offer (IPO) received bids for 15,11,23,780 shares against 13,04,42,855 shares on offer, according to details available on the NSE.</p>.<p>Non-institutional investors part attracted 2.29 times subscription, while the quota for qualified institutional buyers (QIBs) subscribed 90 per cent. The portion for retail individual investors (RIIs) received 64 per cent subscription.</p>.HDB Financial Services’ Rs 12,500 crore IPO priced at Rs 700-740.<p>HDB Financial Services mopped up Rs 3,369 crore from anchor investors.</p>.<p>The IPO will conclude on Friday. The price band for the offer has been fixed at Rs 700-740 per share.</p>.<p>At the upper end of the price band, the company is valued at nearly Rs 61,400 crore.</p>.<p>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.</p>.<p>At present, HDFC Bank owns a 94.36 per cent stake in HDB Financial Services, a non-banking financial company (NBFC) arm of the bank.</p>.<p>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.</p>.<p>The HDB Financial IPO is the second biggest in the last three years after South Korean automaker Hyundai's Rs 27,000-crore offer.</p>.<p>JM Financial, BNP Paribas, BofA Securities India, Goldman Sachs (India) Securities, HSBC Securities and Capital Markets (India) Pvt Ltd, IIFL Capital Services, Jefferies India, Morgan Stanley India Company, Motilal Oswal Investment Advisors, Nomura Financial Advisory and Securities (India) Pvt Ltd, Nuvama Wealth Management, and UBS Securities India are managing the company's IPO.</p>.<p>The company's shares are expected to be listed on the BSE and NSE on July 2. </p>