HDFC Bank shares in focus after HDB Financial Services gets SEBI nod for IPO
HDFC Bank shares
will be in focus on Wednesday after its subsidiary, HDB Financial Services, received approval from the Securities and Exchange Board of India (Sebi) for its proposed initial public offering (IPO).
Sebi issued its final observations on the draft papers last week. A final observation from the regulator indicates clearance to proceed with the IPO.
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by Taboola
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HDB Financial Services plans to raise Rs 12,500 crore through the IPO, which will include a fresh issue of Rs 2,500 crore and an offer for sale (OFS) worth Rs 10,000 crore by existing shareholders. As an upper-layer NBFC, the company is mandated to list by September 2025 under RBI guidelines. Proceeds from the fresh issue will be used to strengthen the company's Tier-I capital base.
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In addition to HDB, SEBI also approved IPO proposals from five other companies on Tuesday: Vikram Solar, A-One Steels India, Shanti Gold International, Dorf-Ketal Chemicals India, and Shreeji Shipping Global.
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So far in 2025, a total of 16 companies have launched IPOs, collectively raising Rs 27,687.32 crore from the public markets.
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According to Trendlyne, the average target price for HDFC Bank is Rs 2,162, indicating an upside of around 12% from current levels. Of the 41 analysts covering the stock, the consensus recommendation is 'Strong Buy'.
On Tuesday, HDFC Bank shares closed at Rs 1,925 on the BSE, down 0.4%, in line with the broader market trend. The benchmark Sensex declined 0.78% for the day. HDFC Bank shares have risen 13% over the past three months and gained 22% over the last 12 months. The bank's current market capitalisation stands at Rs 14.74 lakh crore.
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