Theranautilus Secures $1.2 Mn in Seed...
19 Nov 2024
HDB Financial Services, a subsidiary of HDFC Bank, India's largest private lender, has announced plans to raise ₹2,500 crore through a fresh issue of shares as part of its initial public offering (IPO), according to an exchange filing on Friday. The company's Board of Directors has approved the IPO, which includes a fresh issue of equity shares with a face value of ₹10 each, amounting to ₹2,500 crore. Additionally, an offer for sale (OFS) will be made by existing shareholders, subject to shareholder approval, market conditions, and regulatory clearances.
This IPO announcement comes as the Indian market is poised for significant growth in IPO activity. Pantomath Capital Advisors highlighted the increasing investor confidence, with large corporations preparing to enter the market. So far, 59 IPOs have raised ₹63,862 crore, with an average first-day gain of 30%, surpassing the global average of 22%. Both domestic and international investors are driving this trend, and the outlook for Indian IPOs remains positive.
In parallel, Indian equity benchmarks continue to reach new highs, with strong performances from sectors like banking, financial services, automobiles, consumer goods, and real estate. Mid-cap and small-cap stocks have also posted gains, contributing to the broader market's positive momentum.
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