HDFC: Housing Development Finance Corporation Limited, the country’s largest and most valued real estate firm, completes 41 years today. On this day, HDFC was listed on Bombay Stock Exchange (BSE) in 1978. Although the IPO did not sell out completely, the company has since maintained investor confidence.
If one had invested Rs 10,000 on the day of the company’s listing, it would be worth around Rs 2.45 crore today. It should be noted that the company has Rs. 20 lakh dividend to every investor in these 41 years. The company has only issued bonus shares once.
When was the listing on stock market of HDFC?
HDFC was listed on the Bombay Stock Exchange (BSE) on July 3, 1978. Apart from this, the company was listed on the National Stock Exchange (NSE) on August 5, 1996. The company had for the first time issued its shares at the face value of Rs 100. Later on, the company’s business continued to grow and in 1995 it separated its banking business.
This banking business is being run as HDFC Bank. If one had invested Rs 10,000 in HDFC on the day of listing in 1978, then today its value is Rs 2.45 crore. This value also includes the dividend of Rs 20 lakh. On the other hand, those who will still have 100 shares on the day of listing, their number has now increased to 10,000 shares.
HDFC Business Expended very Rapidly
HDFC has made rapid progress in business. Today there are 3 listed and 8 unlisted companies of this group. At the same time, preparations for listing of 2 unlisted companies are underway. The company has a share of around 40 per cent in the housing finance market of the country. The investment value in HDFC listed companies is Rs 2 lakh crore.
What did Keki Mistry say about HDFC?
Keki Mistry, Vice President and CEO of HDFC, recalls that in 1977, when HDFC was started, banks did not give housing loans. Building a house in those days was a very difficult task. In such a situation, the business of giving housing loans started by taking loans from IFC and LIC, which is continuing till date and is spreading rapidly. While HDFC had taken a loan of $4 million from IFC in the initial round, it took a loan of Rs 10 crore from Life Insurance Corporation of India (LIC).
Know more about this visit – Housing Development Finance Corporation Limited