HDFC AMC IPO: All you need to know

The IPO opened on July 25 and will close on July 27.

HDFC AMC IPO: All you need to know

New Delhi: HDFC Asset Management Company, the country's second largest mutual fund firm, opened its initial public offering for subscription on Wednesday.

HDFC AMC operates as a joint venture between Housing Development Finance Corporation (HDFC) and Standard Life Investments. The garnered Rs 732 from anchor investors on Tuesday.

Here is all you need to know about HDFC AMC IPO

  • The IPO opened on July 25 and will close on July 27.
  • The company's IPO committee has finalised allocation of 66,53,265 equity shares to 35 anchor investors at Rs 1,100 per scrip, the firm said in a regulatory filing.
  • At this price, the total proceeds will be Rs 731.86 crore.
  • Among the anchor investors are Camas Investments, Reliance Strategic Investments, Goldman Sachs (Singapore), Abu Dhabi Investment Authority - Relval, FIL Investments (Mauritius), HSBC Indian Equity Mother Fund, SBI Large and Mid Cap Fund, Kotak Emerging Equity Scheme and Smallcap World Fund, Inc.
  • The price band for the initial public offer (IPO), has been fixed at Rs 1,095-1,100 per equity share.
  • The IPO offers up to 2.54 crore equity shares of the fund house through an offer for sale of 85.92 lakh shares (4.08 per cent stake) by HDFC and up to 1.68 crore shares (7.95 per cent)by Standard Life.
  • At the upper end of the price band, the public issue is expected to garner Rs 2,800 crore.
  • HDFC AMC, which has a total asset under management of over Rs 3 lakh crore as of March-end, is the country's second largest fund house after ICICI Prudential AMC that has an asset base of Rs 3.06 lakh crore during the same period.
  • It will become the second AMC to hit the markets after Reliance Nippon Life AMC, which had raised Rs 1,542 crore last year.
  • Nomura Financial Advisory and Securities (India), Kotak Mahindra Capital, Axis Capital, BofA Merrill Lynch, Citigroup Global Markets India, CLSA India, HDFC Bank, ICICI Securities, IIFL Holdings, JM Financial, JP Morgan India, Morgan Stanley India are the book running lead managers to the issue.

With PTI Inputs