HDB Financial IPO: HDB Financial shelves IPO, opts for NCD; unlisted market shows patience
Despite the deferred IPO, the company’s unlisted shares have held ground in off-market.
Dealers from the unofficial market for trading in unlisted shares said they have faith in the strong parentage of HDFC Group.
“Had the issue (initial public offering) been announced, investors would have rushed to lap up the shares even at higher prices as IPO a big draw,” said Umesh Paliwal, Co-founder, UnlistedZone. “Investors are willing to wait. The market has already priced in the delay.”
HDB Financial Services enjoys a premium valuation, thanks to the strong parentage of HDFC Group, which holds a 95.1% stake in it. The NBFC will eventually attempt to unlock value via the capital market…