Looking at ways to enhance your business & career? Log onto streetsahead.in to upgrade yourself!
SUBSCRIBE NEWSLETTER
MF News HDFC AMC to launch its IPO on July 25

HDFC AMC to launch its IPO on July 25

The IPO offer to open on July 25, 2018 and close on July 27, 2018.
Team Cafemutual Jul 18, 2018

HDFC AMC IPO will hit the market on July 25, 2018. The AMC will float close to 2.55 crore shares at a price band ranges between Rs.1095 and Rs.1100 for the IPO. This indicates that the AMC may raise around Rs.2800 crore.

The AMC has allocated close to 2.22 crore shares for the public issue, 3.20 lakh shares for HDFC AMC employees, 5.60 lakh shares for HDFC group employees and 24 lakh shares for eligible HDFC shareholders.

Investors can make a bid for a minimum lot of 13 equity shares and in multiples of 13. BSE and NSE will list this security.

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

With this, HDFC Mutual Fund will be the third asset management company to be listed. Reliance Nippon Life Asset Management got listed in November 2017 while Shriram AMC, the first listed AMC in India, is no longer listed.

Lead managers: Kotak Mahindra Capital, Axis Capital, DSP Merrill Lynch, Citigroup Global Markets India, CLSA India, HDFC Bank, ICICI Securities, IIFL Holdings, JM Financial, J. P. Morgan India, Morgan Stanley India and Nomura Financial Advisory and Securities (India).

 

 

Click to clap
0 Comment
Be the first to comment.
Wish to stay on top of your game? Get daily tips, ideas and articles to grow your business.
Subscribe to Cafemutual Newsletter.