The IPO of HDFC Asset Management Company Limited opens on July 25th and closes on July 27th. The company is offering shares in the price band of Rs.1095 to Rs.1100.
About HDFC Asset Management Company Limited
Incorporated in 1999 HDFC Asset Management Company Limited is the second largest AMC in India. It is a joint venture between Housing Development Finance Corp Ltd (HDFC) and Standard Life Investments Ltd. It is the second largest AMC with 2.92 lakh crores of assets under management. HDFC AMC has also been the most profitable AMC in India since FY 13 according to ratings agency CRISIL.
Purpose of the issue
To get the benefits of listing on the stock exchanges. All the proceeds of the IPO will go to the selling shareholders.
|Pre issue||Post issue|
|Standard Life Inv||8,05,15,200||38%||6,36,50,615||30%|
The issue consists of an offer for sale (OFS) of 2.5 crore shares.
Issue opens - July 25th
Issue close - July 27th
Face value - Rs.5
Issue size - Rs.2800 crores at the upper end of the price band.
Listing on both NSE and BSE
Retail portion - 35%
Bid lot - 13 shares
Basis of allotment - August 1
Refunds - August 2
Credit of shares - August 3
Listing - August 6
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