HDB Financial Gains 4.5% After Debut; HDFC Bank Sells Stake

Shares of HDB Financial Services, a subsidiary of HDFC Bank, surged over 4.5% on July 3, a day after the non-banking financial company (NBFC) made its debut on the stock exchanges.

As of 9:40 AM on July 3, HDB Financial shares were trading at ₹879.45 apiece, up 4.58% from the previous close. The company’s market capitalisation rose to approximately ₹73,000 crore, reflecting strong investor interest.

Late on July 2, HDFC Bank notified stock exchanges that it had successfully completed the sale of 13.51 crore equity shares in its subsidiary, raising around ₹9,814 crore. This sale was part of HDB’s initial public offering (IPO), and as a result, HDFC Bank's stake in HDB Financial Services was reduced to 74.19%.

“The Bank sold 13,51,35,135 shares of face value ₹10 each of HDBFS in the IPO, post which the shareholding of the Bank in HDBFS has reduced to 74.19% of its total paid-up equity share capital,” HDFC Bank said in a regulatory filing.

On July 2, HDB Financial shares ended the day nearly 14% higher than the issue price of ₹740, marking a strong debut for the NBFC.

The positive market response highlights investor confidence in HDB Financial's growth prospects and the strength of the HDFC brand in the financial services sector.