Unlisted HDFC Securities shares double in 12 months on discount arm plan
Business

Unlisted HDFC Securities shares double in 12 months on discount arm plan

By Dan Neff

The deals are happening at Rs 14,200 – Rs 14,300 apiece valuing HDFC Securities upward of Rs 22,000 crore.

Synopsis

This is after the private lender firmed up plans for its brokerage house to create its own discount broking architecture to compete with new-age firms like Zerodha. The unlisted shares have doubled in the last 12 months — to Rs 14,000 apiece from Rs 7,200 a year ago.

Mumbai: Unlisted shares of HDFC Securities, the brokerage arm of HDFC Bank, have doubled in the past few months and are trading at a valuation of Rs 22,000 crore, on a par with its listed peer ICICI Securities.

This is after the private lender firmed up plans for its brokerage house to create its own discount broking architecture to compete with new-age firms like Zerodha. The unlisted shares have doubled in the last 12 months — to Rs 14,000

BY

ET Bureau

1 min read, Last Updated:

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Dan Neff