Housing Development Finance Corp. and Standard Life will raise Rs 3,600 crore by selling 12% stake in HDFC AMC through initial public offering in May, valuing the company at around Rs 30,000 crore.
HDFC owns 57.34% in the venture while Standard Life owns 38.24% and remaining is with others. The committee of directors set up by the HDFC board has approved offering up to 8,592,970 equity shares of HDFC AMC at Rs 5 each, representing 4.08% stake said HDFC in a regulatory filing. Post dilution, HDFC would like to hold shareholding of around 50%.
