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).