HDB Financial Services IPO allotment today: How to check status
What's the story
HDB Financial Services Ltd., a leading non-banking financial company (NBFC) under HDFC Bank, is likely to finalize the share allotment for its ₹12,500 crore Initial Public Offering (IPO) today. The mainboard issue opened on June 25 and was oversubscribed by nearly 17 times at the close of bidding last Friday. The IPO consists of a fresh issue of shares worth ₹2,500 crore and an offer-for-sale (OFS) component from its parent company HDFC Bank worth ₹10,000 crore.
Investor participation
IPO received bids for 217.7 crore shares
The IPO received bids for 217.7 crore shares against 13.04 crore shares on offer, according to NSE data. Qualified Institutional Buyers (QIBs) subscribed their category 55.47 times while the retail portion was subscribed 1.5 times. Non-Institutional Investors (NIIs) subscribed their quota 10 times and employees' category was subscribed 5.72 times. HDB Financial Services plans to use net proceeds from the IPO to strengthen its Tier-I capital base for future growth in enterprise lending, asset finance, and consumer finance sectors.
Allotment verification
How to check allotment status?
Investors who applied for the IPO shares can verify their allotment status online. To check on BSE, visit the IPO allotment page and select 'Equity' as issue type. Then select 'HDB Financial Services Ltd.' from dropdown menu for issue names and enter application number or PAN to proceed. On MUFG Intime India website, select 'HDB Financial Services Ltd.' from dropdown menu and enter any one of PAN, Application Number, DP/Client ID or Account Number/IFSC to view allotment status.
Upcoming events
Shares to be credited on July 1
HDB Financial Services Ltd. will start crediting shares to successful bidders' Demat accounts on Tuesday, July 1. Refunds for non-allottees will also be processed on the same day. The company's shares are set to debut on NSE and BSE on Wednesday, July 2. Established in 2007, HDB Financial Services Ltd focuses on retail lending and provides personal loans, auto loans, business loans, gold loans among other financing services.