HDFC Bank shares trade close to record high ahead of arm HDB Financial Services IPO

Shares of the country's largest private lender, HDFC Bank, rose 1% to hit an intraday high of ₹1,975.95 on the BSE. The stock was trading close to its record high price of ₹1,996.30 ahead of share sale of HDB Financial Services via Initial Public Offering (IPO) that is slated to begin from Wednesday, June 25.

HDB Financial Services IPO

HDB Financial Services will be selling shares in price band of ₹700-₹740 per share. At the upper end of the price band, the company is valued at nearly ₹61,400 crore.

HDB Financial Services' maiden public issue will open for subscription on June 25 and conclude on June 27, while the bidding for the anchor investor will open for a day on June 24, the company announced.

The company proposes to utilise the proceeds from the fresh issue to strengthen its Tier-I capital base. This will support future capital needs, including additional lending, to support business growth.

Meanwhile, HDFC Bank in a regulatory filing informed exchanges that its board will meet on July 19 to consider and approve financial results of the bank for first quarter of the current financial year.

“We also wish to inform you that the window for trading in securities of the bank shall remain closed from Tuesday, June 24, 2025, to Monday, July 21, 2025 (both days inclusive) for the designated employees and their immediate relatives pursuant to the bank’s share dealing code,” HDFC Bank further said in the exchange filing.

HDFC Bank in last quarter of financial year 2024-25 reported 6.7% year-on-year (YoY) jump in its standalone net profit to ₹17,616.14 crore as against ₹16,511.85 in the year-ago period. Sequentially, the bank's net profit increased by 5.3% from ₹16,735.50 crore posted in Q3 FY25.

Net interest income (NII) of the bank increased to ₹32,066 crore for the reporting quarter, up 10.3% YoY as compared to ₹29,080 crore in the December quarter.

The Bank's board had recommended a dividend of ₹22 per share with a face value of ₹1 each for the financial year 2024-25. The record date for the dividend is Friday, June 27, HDFC Bank said.

HDFC Bank shares have so far this year advanced 11.61% outperforming the NIFTY50 index which has advanced 7.05%.

As of 12:14 pm, HDFC Bank shares traded 1.55% higher at ₹1,977.95. The stock was top mover in the 30-shares SENSEX as it alone contributed 195 points towards over 1,000-point gain in the SENSEX.