The Rise and Fall of HDFC Limited

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Deepak Parik, Reynu Sud Karnad and Keiki Mystery were key to the success of HDFC. The trio would go on to become lifers atHDFC limited. In 1978 when HDFC launched its IPO, the issue was undersubscribed. People stayed away and the stock didn't pop on the day of listing either. Yes, it wasn't quite the start anyone would want - but HDFC didn't stutter.

On 12th July at 3:30 pm, the stock ticker HDFC flashed on the trading screens for one final time. After over four decades India’s first dedicated housing finance company had stopped trading on the stock exchanges.

Now we already wrote a story last year about why HDFC Ltd was merging with HDFC Bank and the implications of that. So we won’t get into that again. Rather, in today’s episode for 14th July 2023, we thought we’d rewind the clock a bit and see how the entity became a housing finance behemoth.

And just to be clear, this is not a paid post. We don’t do those here at Finshots. 🙂

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