HDFC Bank’s non-banking lending unit HDB Financial Services Ltd. On Monday, September 29, it will be in the headlines. The reason is that the company’s shareholder lock-in period is ending. It was one of the largest IPOs of this year, and its three-month lock-in is now being completed.
How many shares will be free
According to Nuvama Alternative & Quantitative Research, around 2.28 crore will be available for trading in the stock market on Monday. This is about 3% of the company’s total equity.
However, this does not mean that all shares will be sold immediately. Actually, after the lock-in is over, they become eligible to sell or buy only. According to Friday’s closing price, the price of these shares is around ₹ 1,723 crore.
Travel so far from IPO
The stock of HDB Financial was listed on 2 July. On the day of listing, the stock made her debut on a minor premium from its issue price. It soon made a high of ₹ 891.9. But since then it has seen a steady decline.
The stock is currently close to its IPO price. It closed at ₹ 755.85 on Friday, which is slightly above ₹ 740. It has declined by about 3% in the last one month.
HDB Financial Results
HDB Financial’s net interest in June quarter rose by 18.3% on an annual basis. But the provisions increased by more than 60%, which directly affected the net profit.
Now investors will monitor the shareholding pattern of September quarter and July-September business updates of the company. The market would also like to see how the company manages its growth and profitability in the coming months.
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