Why HDFC Bank Share Price Hit A Record High Today On NSE, BSE

HDFC Bank shares saw a sharp rally in Thursday's trading session, driven by strong investor enthusiasm around the ongoing Rs 12,500 crore initial public offering (IPO) of its subsidiary, HDB Financial Services.

The stock surged nearly 2% to hit new all-time highs on both the BSE and NSE.

HDFC Bank Share Price Today 
On the BSE, HDFC Bank opened at Rs 1,980.00 and scaled an intraday high of Rs 2,027.40 before closing at Rs 2,019.50, up 39.30 or 1.98%.

On the NSE, the stock opened at Rs 1,981.40, touched a high of Rs 2,027.10, and closed at Rs 2,019.20, registering a gain of 39.00 or 1.97%.

The rally marks the highest-ever closing for the banking giant and reflects growing investor confidence as the bank looks to monetise its stake in its non-banking financial arm.

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What’s Behind the Surge?
The surge is largely attributed to the strong traction around the HDB Financial IPO, which opened for subscription on June 25 and closes on June 27.

HDFC Bank is set to raise approximately Rs 10,000 crore by reducing its stake in the subsidiary from 94.36% to 74.19%.

Ahead of the IPO, HDB Financial raised Rs 3,369 crore from marquee anchor investors including BlackRock funds, Life Insurance Corporation of India, and Norway's sovereign wealth fund.

The IPO is priced in the range of Rs 700–740 per share, valuing the NBFC at nearly Rs 61,400 crore.

According to market observers, the grey market premium (GMP) for the IPO stands at Rs 50, indicating a potential listing price of Rs 790—a 6.76% upside from the issue’s upper price band.

Private Banks Lead the Market
HDFC Bank’s upward momentum also pulled the Bank Nifty higher, as the index recorded significant gains during the session. Private lenders like ICICI Bank and AU Small Finance Bank were also trading over 1.5% higher, contributing to the rally.

In contrast, public sector banks lagged behind. SBI, Federal Bank, Bank of Baroda, Canara Bank, PNB, and IDFC First Bank closed with marginal losses, suggesting the bullish sentiment remained largely confined to private players.