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HDFC Bank History

Saturday, February 18, 2017

1994 - The Bank was Incorporated on 30th August. A new private sector Bank promoted by housing Development Corporation Ltd. (HDFC), a premier housing finance company.

1995 – IPO came and the bank started to operate its first branch at Ramon House, Churchgate, Mumbai.

HDFC Bank went public in 1995. The issue was oversubscribed 55 times and IPO price was Rs. 10. Its current price is 1377. After adjusting for bonuses, stock splits etc, its return since listing comes to a whopping 26% per annum.

As on Friday close on February 17, 2017, HDFC bank becomes the second-most valued Indian company. Tata Consultancy Services is India’s most valuable company with a market capitalization of Rs 4.75 trillion. HDFC Bank has a market capitalisation of over Rs 3.52 trillion, while Reliance Industries Ltd has a market cap of Rs 3.48 trillion.

 Such a result is possible in India within a span of 22 years, HDFC Bank has become second-most valued Indian company. This is the power of compounding and the opportunity which Indian market provides.