HDB Financial Services IPO: Allotment Date Nears as Investors Eye Listing Day Gains

The excitement is building for investors who participated in the HDB Financial Services Initial Public Offering (IPO). A subsidiary of the venerable HDFC Bank, this public issue witnessed a phenomenal response, and now all eyes are on the crucial allotment date. With the bidding period successfully concluded, applicants are eagerly awaiting news on the allocation of shares.

The ₹12,500-crore HDB Financial Services IPO, which ran from June 25 to June 27, was a significant event in the primary market. It comprised a fresh issue of 3.38 crore equity shares worth ₹2,500 crore, alongside a substantial offer-for-sale (OFS) of 13.51 crore shares totaling ₹10,000 crore. The price band for this highly anticipated offering was set between ₹700 and ₹740 per share.

Robust Demand Drives Subscription Success

HDB Financial Services' IPO demonstrated strong investor confidence, subscribing an impressive 16.69 times overall. Data from the NSE reveals that the public issue attracted bids for a staggering 217.67 crore equity shares against the 13.04 crore shares on offer.

Breaking down the subscription figures, retail investors showed keen interest, subscribing 5.72 times their allocated portion. The Qualified Institutional Buyers (QIBs) category led the charge with an overwhelming 55.47 times subscription, while Non-Institutional Investors (NII) also showed robust demand, with their segment subscribing 9.99 times.

Grey Market Premium: A Glimpse into Listing Expectations

While the overall sentiment in the primary market remains positive, the grey market premium (GMP) for HDB Financial Services shares has shown a more subdued trend. According to market observers, the HDB Financial Services IPO GMP today stands at ₹54 per share. This indicates that shares are currently trading at a premium of ₹52 in the unofficial grey market.

Based on this GMP, HDB Financial Services shares are estimated to list at ₹794 apiece, reflecting a premium of approximately 7.30% over the upper end of the issue price of ₹740 per share. However, it's crucial for investors to exercise caution. Stock market experts consistently advise against relying solely on GMPs, as these unofficial prices can fluctuate significantly before listing. A thorough analysis of the company's fundamentals should always be the cornerstone of any investment decision.

Key Dates: Allotment and Listing on the Horizon

With June 28 and June 29 being a weekend and a stock market holiday respectively, the HDB Financial Services IPO allotment date is highly anticipated to be finalized on Monday, June 30. Following the T+3 listing rule, where T refers to the allotment date plus three working days, HDB Financial Services shares are expected to make their debut on both the BSE and NSE on July 2.

Once the allotment status is officially confirmed, HDB Financial Services will swiftly credit equity shares to the demat accounts of successful applicants. Simultaneously, refunds for unsuccessful investors will be initiated on the same day.

How to Check Your HDB Financial Services IPO Allotment Status

Anxious to know if you've been allotted shares? You can easily check your HDB Financial Services IPO allotment status online through various platforms:

1. Via the BSE Website:

Step 1: Visit the BSE website: https://www.bseindia.com/investors/appli_check.aspx

Step 2: Under 'Issue Type,' select 'Equity.'

Step 3: From the 'Issue Name' dropdown menu, choose 'HDB Financial Services Limited.'

Step 4: Enter either your Application Number or PAN.

Step 5: Complete the 'I am not a robot' verification and click 'Search.'

Your allotment status will be displayed on the screen.

2. Through the NSE Website:

Step 1: Go to the NSE allotment status page: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

Step 2: Select 'Equity and SME IPO bids.'

Step 3: Choose 'HDB Financial Services' from the 'Issue Name' dropdown menu.

Step 4: Enter your PAN and Application Number.

Step 5: Click 'Submit.'

Your HDB Financial Services IPO allotment status will appear on your screen.

3. On the Registrar's Website (MUFG Intime India Private Limited):

Step 1: Visit the IPO registrar's website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html

Step 2: In the 'Select Company' dropdown menu, choose 'HDB Financial Services Limited.'

Step 3: Select one of the identification options: PAN, Application No., DP ID, or Account No.

Step 4: Enter the corresponding details based on your selection.

Step 5: Click 'Search.'

Your HDB Financial Services IPO allotment status will be shown.

As the financial world awaits the official allotment, investors are hopeful for a positive listing for HDB Financial Services, a key player poised to make its mark on the Indian stock exchanges.