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MF News No HDFC MF pre- IPO allotment for distributors

No HDFC MF pre- IPO allotment for distributors

HDFC Mutual Fund reportedly recalls shares allotted to distributors.
Nishant Patnaik Jul 2, 2018

SEBI has reportedly asked HDFC Mutual Fund to recall shares allotted to mutual fund distributors through pre IPO placement, said three people aware of the development.

Following this, the fund house has approached distributors through phone calls on Saturday. “On SEBI’s direction, we have recalled our pre IPO placement to distributors,” said a senior official of HDFC Mutual Fund.

Last month, the fund house allotted shares of Rs.150 crore to 140 distributors through private placement. HDFC AMC had reserved up to 7.2 lakh shares for its empanelled distributors.

Currently, the fund house has over 60,000 empanelled distribution partners across India.

 

7 Comments
MITESH C SHAH · 2 weeks ago
Pls give HDFC AMC SHARE TO DISTRIBUTOR ON DISCOUNT PRICE
AMBRISH · 2 weeks ago
Equal Justice for All, Law has taken it's own Course. Thanks to SEBI for protecting the rights of Honest Shareholders.
Regards
Raj kumar gupta · 2 weeks ago
100000
l Ashok · 2 weeks ago
From ET news, HDFC alloted nearly 10000 shares perhead by the value of Rs. 1050 per share by private placement to 140 distributors. But remaining 59860 distributors who had empanelled with HDFC are not alloted. Why this partiality. I think some thing behind this. Now we came to know SEBI asked HDFC to cancel the deal. I think it is fair.
VEERENDRA KUMAR A D · 2 weeks ago
Why only 140 distributors other distributors were not given option only this is very unethical practice from a reputed institution like HDFC using distributors name they gave preference to select few.
Bansi Hariani · 2 weeks ago
Who are these 140 distributors. Why not all 60000 were allotted shares. This clearly shows the bias attitude of the HDFC AMC's towards the small distributor.

rashmin gandhi · 1 week ago
same reules for all mf distributors , take benefit for all,why 140 distributors?
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