HDB Financial share price climbs over 4% a day after surging nearly 14% in debut trade

The stock climbed 4.38% to ₹877.8 apiece on the National Stock Exchange at 1:30 pm. Its market capitalisation stands at ₹72,819.37 crore.

The company's shares had debuted at ₹835, a 12.83% premium from the issue price of ₹740 on the National Stock Exchange and the BSE.

The scrip ended at ₹840.95 on the NSE, reflecting a jump of 13.64%.

The initial share sale had a price range of ₹700- ₹740 per share.

The issue consisted of new equity shares valued at ₹2,500 crore and an offer-for-sale, or OFS, of ₹10,000 crore by promoter HDFC Bank.

"We will continue to support HDB as it navigates the opportunities and challenges of the public market," he said.

The net issue proceeds will be used to enhance its tier-I capital base to back future capital requirements, including additional lending, to support business growth.

The firm also "expects to receive the benefits of the listing of the equity shares on the stock exchanges, including enhancement of our company’s brand name and creation of a public market for our equity shares in India."

Before the IPO, HDB Financial had collected ₹3,369 crore from anchor investors.

HDB Financial is an upper-layer non-banking financial company (NBFC) with a primary focus on three business verticals: asset finance, enterprise lending, and consumer finance.