Holders of HDB's unlisted shares face losses as IPO is priced 40% lower - The Economic Times
Published 8 hours ago• 2 minute read
Holders of HDB’s unlisted shares face losses as IPO is priced 40% lower
By , ET Bureau
, at higher levels on expectations that the IPO would be priced at higher levels.
"In the unlisted market, HDB Financial's shares were bought at 5 to 6 times price-to-book (P/B), which is a significant premium to HDFC Bank's 2.9 times P/B. This puts early investors at risk of losses unless the stock lists at a substantial premium, which seems unlikely," said Apurva Sheth, head of research at Samco Securities.
