Shares of HDFC Bank are expected to draw investor attention on Friday after its non-banking finance arm, HDB Financial Services, announced the launch of its much-awaited initial public offering (IPO). The ₹12,500-crore issue—India’s largest from a non-bank lender—will open for subscription on Wednesday, June 25.
In a stock exchange filing on Thursday, HDFC Bank confirmed that HDB Financial had filed its Red Herring Prospectus (RHP) with the Registrar of Companies. The IPO will remain open for three days, closing on June 27. Bidding by anchor investors will take place on June 24.
The offer includes a fresh issue of shares worth ₹2,500 crore and an offer for sale (OFS) of ₹10,000 crore by HDFC Bank, the promoter. The price band has been set at ₹700–740 per share. If fully subscribed, this IPO will be the largest in India since Hyundai Motor India’s ₹27,870-crore issue in October 2024.
HDFC Bank shares have risen 16.7% over the past year and are up 11% in the last three months. However, the stock has slipped 0.4% in the past week as the IPO nears.
From a technical perspective, the stock is trading above five of its eight key simple moving averages (SMAs)—specifically the 5-day, 50-day, 100-day, 150-day, and 200-day averages. It remains below the 10-day, 20-day, and 30-day SMAs.
The Relative Strength Index (RSI) stands at 51.1, indicating that the stock is neither overbought nor oversold. The Moving Average Convergence Divergence (MACD) is at 6.2—still above the Center Line but currently below the signal line—pointing to a neutral-to-cautious trend in the short term.
