HDB Financial Services IPO GMP: Brokerage firm Citi has maintained a BUY rating for HDFC Bank shares. Meanwhile, the bank's non-banking lending company HDB Financial Services has applied for an IPO. HDB Financial Services has recently applied for an IPO to meet the mandatory listing rule and raise growth capital. Citi said that HDB Financial Services is a leading, large, and diversified NBFC with a credit rating of AAA.

HDFC Bank Share Price Target 2025 ( HDFC Bank Share Price Target 2025)

According to Citi, post-IPO, HDB Financial Services' valuation could be 2.8 to 4.3 percent of HDFC Bank's market capital at a price-to-book (PB) ratio of 3-4 times.

Citi has maintained a BUY rating on HDFC Bank shares with a target price of Rs 1,990. HDFC Bank shares are trading at Rs 1758 on BSE at 3 pm on Tuesday. At this price, it can give a return of more than 13 percent.

There will be an IPO of 12500 crores.

HDB Financial Services has filed documents for an IPO of Rs 12,500 crore. New shares worth Rs 2,500 crore will be issued in the IPO of HDFC Bank's subsidiary company. At the same time, shares worth Rs 10,000 crore will be sold by the promoter HDFC Bank.

Disclaimer: Here information about an IPO and shares is given, not investment advice. There is risk in the equity market, so invest at your own risk. Do take expert advice before investing.

The advice given here is based on the report of ET Now Swadesh and the stock opinion is based on the information provided to ET Now by the brokerage firm. Times Now Navbharat.com is not giving any investment advice of its own.