HDB Financial IPO pricing reflects investor feedback, say bankers

The steep pricing cut in the initial public offering (IPO) of HDB Financial Services came after feedback from high-quality institutional investors -- including mutual funds, insurance companies, and leading foreign portfolio investors (FPIs) — following extensive roadshows, according to the company’s management and investment bankers involved in the offer.

 

The IPO, which opens on June 25 and closes on June 27, has kept a price band of ₹700–740 per share, significantly below levels at which the lender’s shares were trading in the unlisted market. Anchor investors can subscribe on June 24.

 

HDFC Bank, which promotes HDB, may be required to