Shares in HDB Financial Services' Initial Public Offering (IPO) have been completely snapped up on the second day.

Boom! HDFC's Daughter Company, HDB Financial Services, Nails $1.5 Billion IPO on Day 2

Shares in HDB Financial Services' Initial Public Offering (IPO) have been completely snapped up on the second day.

Hey there! Big news hit the stock market yesterday - the long-awaited IPO of HDB Financial Services, HDFC Group's first public offering in sevenyears, was a smashing success!

The IPO, worth a whopping $1.5 billion, was fully subscribed on the second day of bidding on Thursday. In just two days, investors couldn't resist the temptation to join in on India's biggest offering of the year.

On the first day, HDB Financial Services' IPO already claimed a 37% subscription. But the excitement only grew on day 2, as the IPO reached its maximum capacity! With bids worth up to 101.63 billion rupees at the upper end of the 700-740 rupees price band, the shares were snapped up 1.06 times more than the shares on offer. Whoa, talk about a demand surge!

But wait, there's more! The IPO, the largest by an Indian non-bank lender, managed to pull in amazing fundings from some very promising sources. A notable ₹3,300 crore came from big-name investors like LIC, Goldman Sachs, Blackrock, and 22 domestic mutual funds. Now that's a powerhouse squad right there!

So, what's next? Well, keep your eyes peeled for July 2, as the shares are set to start trading in Mumbai. It's going to be a wild ride! 🎢💥

(Straight from the horse's mouth—or in this case, Reuters!)

🔝Highlights🔝- HDB Financial Services IPO, valued at $1.5 billion, was oversubscribed on day 2 of bidding.- The IPO is India's biggest offering of 2023 in the financial sector.- The IPO raised ₹3,300 crore from anchor investors like LIC, Goldman Sachs, Blackrock, and domestic mutual funds.- The IPO is a significant step in HDFC Bank's capital optimization strategy, as it plans to reduce its stake post-listing.- The shares are set to start trading in Mumbai on July 2, 2023.

So, don't miss out on all the thrilling action happening in the stock market! Stay on top of the game by following our website and app for the latest business news, IPO updates, and stock market stats. Let's make some cold, hard cash together! 💰💸

](#)(With additional insights from FE Business: https://www.financialexpress.com/industry/banking-finance/hdb-financial-services-ipo-subscribed-37-at-day-1-HDFC-bank-farm-dividends-to-hold-74-stake/2443937/)

• With the successful completion of its $1.5 billion IPO, HDB Financial Services' entrance into the market signals a significant expansion in the finance industry's investment opportunities.
• The impressive demand for HDB Financial Services' shares on the stock exchange showcases the strong interest of both domestic and foreign investors in the Indian business sector.
• As a result of the IPO, HDFC Bank is set to raise a substantial amount of capital, further enhancing its portfolio and strengthening its position in the market.
• Investors who participate in the trading of HDB Financial Services' shares on Mumbai's exchange can expect an exciting and potentially profitable experience amidst the growing finance market.

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