Unlisted HDFC Securities shares double in 12 months on discount arm plan

Mumbai: Unlisted shares of HDFC Securities, the brokerage arm of HDFC Bank, have doubled in the past few months and are trading at a valuation of Rs 22,000 crore, on a par with its listed peer ICICI Securities. This is after the private lender firmed up plans for its brokerage house to create its own discount broking architecture to compete with new-age firms like Zerodha. The unlisted shares have doubled in the last 12 months — to Rs 14,000