HDB Financial Services filed its Red Herring Prospectus (RHP) with the Registrar of Companies on Thursday, HDFC Bank said in an exchange filing. The IPO will be open for three days and will close on June 27, with anchor investors set to bid on June 24.
The offer will comprise a fresh issue of shares worth Rs 2,500 crore and an offer for sale (OFS) of Rs 10,000 crore by the promoter, HDFC Bank. At a price band of Rs 700–740 per share, the issue is expected to be the largest in the Indian market since Hyundai Motor India’s Rs 27,870-crore listing in October 2024.
Earnings snapshot
HDB Financial posted a consolidated profit after tax of Rs 2,175.9 crore for the financial year ended March 2025, compared to Rs 2,460.8 crore in the previous year. However, its consolidated revenue from operations rose to Rs 16,300.3 crore, up from Rs 14,171.1 crore in FY24.
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Market reaction and technical view
Shares of HDFC Bank have gained 16.7% over the past 12 months and are up 11% in the last three months. However, the stock has slipped 0.4% over the past week ahead of the IPO.From a technical standpoint, the stock is trading above five of its eight key simple moving averages (SMA)—including the 5-day, 50-day, 100-day, 150-day, and 200-day SMAs. It remains below its 10-day, 20-day, and 30-day SMAs.The Relative Strength Index (RSI) stands at 51.1, suggesting the stock is neither overbought nor oversold. Meanwhile, the Moving Average Convergence Divergence (MACD) is at 6.2—still above its Center Line but currently below the signal line, indicating a neutral-to-cautious outlook in the near term.
Also read | HDB Financial Services’ Rs 12,500-crore IPO to open on June 25
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