HDB Financial Services, Sambhv Steel Tubes, 3 other IPOs open for subscription; check list and key details

A total of five IPOs opened for subscription on Wednesday, June 25. They include the mainboard issues of HDB Financial Services and Sambhv Steel Tubes.

Three SME IPOs that hit Dalal Street include Supertech EV, Suntech Infra Solutions and Rama Telecom. Their allotment statuses are expected to be finalised on June 30, while listing would occur on July 2.

HDB Financial Services IPO

The ₹12,500 crore initial public offering of HDB Financial Services, a subsidiary of HDFC Bank, is a mix of a fresh capital raise of ₹2,500 crore and an offer for sale (OFS) of ₹10,000 crore.

The proceeds from the fresh issue will be used to strengthen the company's Tier-1 capital bases to back future capital needs.

The price band is ₹700 to ₹740 per share, and a lot consists of 20 shares.

On Tuesday, HDB Financial secured ₹3,369 crore in the anchor round from investors, including Life Insurance Corporation, ICICI Prudential Mutual Fund (MF), Nippon India MF, SBI MF, ICICI Prudential Life Insurance, Royal Bank of Canada, BlackRock, Allianz Global Investors, Copthall Mauritius Investment, Morgan Stanley, Prudential plc, APG Asset Management, Norway's Government Pension Fund Global, Goldman Sachs, Baillie Gifford, British multinational Schroder, Fidelity Investments, Abu Dhabi Investment Authority, Tata Investment Corporation, and Societe Generale.

The company allocated more than 4.55 crore shares to 141 entities at the upper price band of ₹740 per equity share.

HDB Financial Services is an upper-layer NBFC with more than ₹1 lakh crore in assets under management (AUM).

Ramesh G, the managing director and chief executive officer, said, "The company has built the business, including enterprise loans, consumer loans, and asset finance from the ground up since 2008 and stressed that it operates independently in such a way that no sourcing is done from the promoter and the technology stack is also different."

Sambhv Steel Tubes IPO

The price band has been fixed at ₹77 to ₹82 per share, and a lot consists of 182 shares. The capital raised will be used for repayment of debt and corporate general purposes.

On Tuesday, the company collected ₹161.25 crore from anchor investors, including WhiteOak Capital Mutual Fund (MF), Motilal Oswal MF, Citigroup Global Markets Mauritius, Astorne Capital VCC Arven, Societe Generale, Nomura Singapore and BNP Paribas Financial Markets.

Sambhv Steel manufactures electric resistance welded (ERW) steel pipes and structural tubes (hollow section).