HDB Financial shares extend gains a day after stock market debut
HDB Financial Services share price made a solid debut on the bourses on July 2. On NSE and BSE, HDB Financial Services share price opened at ₹ 835 per share, 12.84 % higher than the issue price of ₹ 740.
HDB Financial Services share price ended HDB Financial Services IPO listing day at ₹ 840.25 on NSE, a 13.55% premium to the IPO price of ₹ 740, and at ₹ 840.90 on BSE, a 13.64% premium.
HDB Financial, backed by a robust parent company, has achieved an impressive market debut, and its success is sure to inspire other companies considering an IPO to explore the public markets," remarked Mahesh Ojha, assistant vice president of research and business development at Hensex Securities.
Ojha noted that there is significant potential for growth for the lender, highlighting its strong fundamentals, which include low gross non-performing assets, an annual profit growth rate of 5.4%, and an extensive distribution network.
The company, a subsidiary of India's leading private bank HDFC Bank, offers a range of services including personal, home, vehicle, and gold loans, among others. It was aiming for a valuation of $7.1 billion. The IPO saw heightened interest from qualified institutional buyers such as foreign investors and mutual funds, whose applications exceeded the shares set aside for them by 55 times, added Mahesh Ojha.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
9 hours ago
- The Hindu
Rajoo Engineers to raise ₹180 crore via QIP issue
Rajoo Engineers Ltd., a manufacturer of plastic extrusion machinery has initiated the process to raise ₹180 crore through Qualified Institutional Placement (QIP). The issue will close on July 21. The company's board had approved the opening of the issue of qualified institutional placement (QIP) of equity shares with the floor price of ₹114.42 per equity share. On July 14, the closing price of the equity shares on the BSE was ₹131.20 and ₹131.15 per equity share on NSE. The proceeds of up to ₹160 crore from the QIP will be deployed for expansion of business through inorganic growth to accelerate the company's growth plans and remaining proceeds towards general corporate purpose. The company which specialises in Blown Film Lines, Sheet Extrusion Lines, Thermoforming Machines and PVC Pipe Extrusion Solutions has presence in over 70 countries. It is listed on the BSE and NSE. Operating from Rajkot, Gujarat, the company offers over 26 products across six segments in plastic processing. GYR Capital Advisors Private Ltd. is the Book Running Lead Managers (BRLMs) to the QIP issue.
&w=3840&q=100)
Business Standard
10 hours ago
- Business Standard
Kalpataru Q4 net profit declines 42% to ₹14 crore, revenue up 21%
Kalpataru, a Mumbai-based real estate developer, reported a 42.18 per cent year-on-year (Y-o-Y) decline in its net profit (attributable to owners of the parent) for the fourth quarter of financial year 2025 (Q4 FY25). The company's profit in Q4 FY25 stood at Rs 14.05 crore, compared with Rs 24.3 crore in Q4 FY24. Kalpataru got listed on BSE late last month but reported its Q4 earnings. Meanwhile, the company's revenue from operations during the quarter under review stood at Rs 596.89 crore, up 21.32 per cent Y-o-Y. Kalpataru's total expenses during the same period increased by 26.63 per cent Y-o-Y. The company's adjusted earnings before interest, taxes, depreciation, and amortisation (Ebitda) during the quarter stood at Rs 182 crore, while Ebitda margin stood at 30.5 per cent. Average sale realisation in Q4 FY25 stood at Rs 15,127 per square foot, compared with Rs 10,935 per square foot in the same period last year. Overall, in FY25, the company's revenue stood at Rs 2,221.62 crore, up about 15.11 per cent Y-o-Y. In FY25, the company posted a profit of Rs 21.62 crore, against a loss of Rs 94.98 crore in FY24. Kalpataru's adjusted Ebitda in FY25 stood at Rs 664 crore, while Ebitda margin stood at 29.9 per cent. The company's pre-sales during the year stood at Rs 4,531 crore, up 41 per cent Y-o-Y. It launched seven projects with a saleable area of 6.5 msf in FY25. Average sale realisation in FY25 stood at Rs 13,905 per square foot, compared with Rs 11,332 per square foot in FY24. Parag Munot, managing director, Kalpataru, stated that the company's FY25 performance was driven by strong sales, focus on an asset-light growth model, disciplined execution, and strategic decision-making. In June, the company raised Rs 1,590 crore in equity through an initial public offering. Of this, Rs 1,192.5 crore has been utilised for debt repayment, according to Munot. The company's total current liabilities stood at Rs 10,082.45 crore as of FY25. 'As we look ahead, our commitment remains firm: to strengthen our presence across the key micro-markets within the MMR & Pune region and to build on the trust and goodwill we have earned,' Munot added. Sequentially, the company's revenue increased marginally by 1.51 per cent, while it posted a profit in Q4 FY25 against a loss of Rs 21.86 crore in Q3 FY25.
Hans India
11 hours ago
- Hans India
SBI sets floor price at Rs 811.05 for its Rs 20,000 crore bonds
New Delhi: State Bank of India (SBI), the country's largest public sector lender, on Wednesday set the floor price at Rs 811.05 per equity share for its Rs 20,000 crore bonds. The board director of the bank approved the proposal to raise the amount through issuing bonds to domestic investors. The issue's subscription period began on Wednesday after the bank's board of directors approved the fundraising during a meeting on Wednesday, the public sector lender informed exchanges. The floor price is 2.3 per cent less than the closing price of SBI shares on the BSE on Wednesday. The scrip settled at Rs 831.55, up 1.81 per cent from the previous close. The biggest lender in India confirmed in a separate regulatory filing that the Central Board authorised the issuance of 'Basel III-compliant Additional Tier 1 and Tier 2 bonds' with a maximum value of Rs 20,000 crore for the current fiscal. Subject to any required government approvals, these bonds will be issued to domestic investors in Indian rupees. The goal of the action is to increase the nation's biggest bank's capital base. The SBI board approved raising to Rs 25,000 crore in equity capital for FY26 earlier this year in May. Qualified Institutional Placement (QIP), Follow-On Public Offer (FPO), or other approved means will be used to raise the capital in one or more tranches. In order to strengthen the bank's financial standing, the goal is to increase SBI's Common Equity Tier 1 (CET1) capital ratio. The government's stake, which was 57.43 per cent as of March 31, will be diluted as a result of the proposed QIP. Six well-known investment banks have been chosen by SBI to oversee the QIP process: ICICI Securities Ltd, Kotak Investment Banking, Morgan Stanley, SBI Capital Markets Ltd, Citigroup, and HSBC Holdings Plc. For the fiscal year 2024-2025, SBI previously sent the government a dividend cheque of Rs 8,076.84 crore. For the fiscal year 2024-2025, the public sector bank's net profit soared to Rs 70,901 crore. The bank is commemorating its 70th year of existence with a balance sheet that has increased to Rs 66 lakh crore and a customer base that has surpassed an incredible 52 crore.
