Bajel Projects Bags ₹400+ Crore Ultra Mega EPC Order from Power Grid: A Game-Changer for Power Infrastructure

 Bajel Projects Ltd. (BAJEL | ₹202.6) has clinched a massive ₹400+ crore Ultra Mega EPC order from Power Grid Corporation of India (PGCIL), solidifying its position as a key player in India’s power infrastructure sector. This high-value contract for developing transmission lines, with a 29-month completion timeline , is set to boost Bajel’s growth trajectory and enhance its reputation in large-scale project execution. Let’s break down the details, sector impact, and what this means for investors and the market.  Details of the Order Order Value : Over ₹400 crores, marking one of Bajel’s most significant wins to date. Client : Power Grid Corporation of India, a Maharatna PSU and India’s leading power transmission company. Scope : Engineering, Procurement, and Construction (EPC) for transmission line development, critical for strengthening India’s power grid. Timeline : 29 months, ensuring steady revenue recognition through FY27. Project Type : Ultra Mega, highlighting Bajel’s...
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HDB Financial Services IPO: Grey Market Premium Surges Ahead of Launch—Key Details to Know

In a strong indication of investor enthusiasm, HDB Financial Services IPO Grey Market Premium (GMP) has shown a sharp surge just days ahead of the public issue opening. As market participants gear up for one of the most anticipated IPOs of the year, the buzz in the unofficial market is hard to ignore.

HDB Financial Services IPO Opening Date and Listing Details

The HDB Financial Services IPO—the much-awaited public debut of the HDFC Bank subsidiary—is scheduled to open for subscription on June 25, 2025, and will close on June 27, 2025. Bidding for anchor investors will be held on June 24, just a day prior to the opening.

Post the subscription period, the share allotment is expected on June 30, with listing likely on July 2, on both the BSE and NSE.

What’s Fueling the GMP Surge?

One of the biggest indicators of investor sentiment before an IPO is the Grey Market Premium (GMP). It’s essentially the premium at which IPO shares are traded unofficially before being listed on the stock exchange.

According to several platforms tracking grey market movements, HDB Financial Services shares are currently commanding a GMP of around ₹83, which translates to an 11.22% premium over the issue price. This level of GMP reflects a bullish sentiment and strong expectations of listing gains.

IPO Price Band and Valuation

The company has set a price band of ₹700–₹740 per share for its ₹12,500 crore IPO. At the upper end of the price band, the company is valued at approximately ₹61,400 crore.

The issue is structured as a combination of a fresh issue and an Offer For Sale (OFS):

  • Fresh issue: ₹2,500 crore

  • Offer For Sale (OFS): ₹10,000 crore (by promoter HDFC Bank)

Currently, HDFC Bank holds a 94.36% stake in HDB Financial Services. The IPO will help HDFC Bank unlock value while also meeting regulatory requirements and strengthening its NBFC arm's balance sheet.

Why Investors Are Interested

Here are some key reasons why investors are closely watching the HDB Financial IPO:

  • Strong parentage: Backed by India’s largest private lender, HDFC Bank

  • Stable fundamentals: HDB Financial Services has a diversified loan book and solid growth metrics

  • Market positioning: A major player in the NBFC space focusing on retail and SME segments

  • Attractive grey market signals: 11%+ GMP shows strong demand

  • Liquidity event: Chance for HDFC Bank to monetize holdings and for investors to enter a high-potential stock

Should You Subscribe?

While GMP is not a guaranteed indicator of success, it does offer a glimpse into investor expectations. The current GMP of ₹83 (11.22%) suggests positive momentum. However, investors are advised to look beyond GMP and focus on fundamentals such as the company’s profitability, asset quality, growth outlook, and sector trends before subscribing.

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