HDB Financial shares settled nearly 14 percent higher on the debut day on National Stock Exchange (NSE) on Wednesday, July 2.

The stock settled at Rs 840.25 per share on the NSE, up 13.55 percent over its issue price. The total market cap of the company on the first day of listing of shares stood at Rs 69,758.27 crore.

Earlier in the day, the stock listed at a decent premium of about 13 percent over its IPO price  The listing of the shares of the subsidiary of HDFC Bank was better than the expectations in the grey market which had priced in a 8-10 percent gains on the listing day for the allotted investors.

Shares of HDB Financial Services listed at Rs 835 per share on the NSE, a premium of 12.84 percent over its issue price. The Rs 12,500-crore issue had a price band of Rs 700-740 per share.

On the BSE too, the shares were listed at Rs 835 apiece, a premium of 12.84 percent.

The IPO of HDB Financial was open for subscription between June 25 and June 27 and saw full subscription by the second day. The issue concluded 16.69 times subscription, with strong interest from institutional investors.

The non-banking financial company (NBFC) operates with a diversified loan portfolio, including enterprise, consumer and asset financing. It has a wide presence across India with 1,771 branches and more than 60,000 employees.