Shares of HDB Financial Services Ltd, a subsidiary of HDFC Bank, on Wednesday got listed with a premium of nearly 13 per cent against the issue price of Rs 740.
The company’s stock started trading at Rs 835, a jump of 12.83 per cent from the issue price on the BSE. Later, it surged 14.29 per cent to Rs 845.75.
At the NSE, shares of the firm listed at Rs 835.
The company commanded a market valuation of Rs 69,658.72 crore during the initial trade.
The Rs 12,500-crore initial share sale of HDB Financial Services got subscribed 16.69 times on the closing day of bidding on Friday last week, amid encouraging participation from institutional buyers.