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HDB Financial also become the second-most subscribed Indian IPO, whose value has been in excess of ₹10,000 crore. The 16.7x subscription was higher than Coal India (15.28x) but fell short of SBI Cards (26.54x).

The ₹12,500 crore issue closed for subscription last week and it received a healthy response, particularly from institutional investors and the high net worth individuals.

The QIB portion received bids for 55 times the shares on offer, while the non-institutional portion was also subscribed 10 times.

However, retail investors chose to exercise caution with the portion reserved for them getting bid for only 1.4 times the total shares on offer.

HDB Financial investors placed bids for 217.7 crore shares, in comparison to the 13.04 crore shares that were put up for bidding.

At the upper end of the price band of ₹700 – ₹740 per share, HDB Financial received bids worth ₹1.61 lakh crore, marginally higher than the ₹1.56 lakh crore that the Tata Technologies IPO had received back in 2023, but lower than Bajaj Housing Finance’s mega ₹3 lakh crore worth of bids last year.

The three-day, ₹12,500 crore issue of HDB Financial Services, received a healthy response from investors, particularly those from the institutional side.

Retail investors chose to exercise caution, although the portion reserved for them was also fully subscribed.

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Welcome to CNBC-TV18’s Live coverage of the HDB Financial Services listing.

The much awaited IPO is set to make its stock market debut today.

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