HDFC AMC IPO: Deepak Parekh, Chairman, HDFC has said that this was the apt time to get our AMC listed as the\u00a0IPO of India's second-largest mutual fund company HDFC AMC readies to open next week on 25 July\u00a02018 for the\u00a0subscription. The fifth listing within the financial conglomerate HDFC, HDFC AMC will close on 27 July 2018 for all investor classes. While addressing a press conference, Deepak Parekh said that we have always believed that listing reflects the value we have created in our key subsidiaries.\u00a0For creating a long-term value patience is required, Parekh said further. HDFC is one of the finest brands in India and is the\u00a0largest equity-oriented AUM as of 31 March 2018, said\u00a0Uday Kotak, Executive VC & MD, Kotak Mahindra Bank.\u00a0HDFC AMC is the most profitable AMC in India, Uday Kotak added.\u00a0HDFC along with Standard Life has nurtured HDFC AMC for 18 long years and based on the way we envisage, India's futures, we thought this time was right, this was the apt time to get our AMC listed, Deepak Parekh said.\u00a0With the launch of HDFC AMC IPO, this will be the fifth IPO within our group, Deepak Parekh added. HDFC AMC has fixed a price band of Rs 1,095 to Rs 1,100 per equity share for its IPO following which the firm has expected to raise Rs 2,800 crore at the upper end of the price band. According to the DRHP filings, about 2.54 crore equity shares of HDFC AMC have been offered through an offer for sale\u00a085.92 lakh shares by HDFC and up to 1.68 crore shares by Standard Life. HDFC will be offloading 4.08% stake while Standard Life will sale 7.95% holding ibn HDFC AMC IPO. HDFC AMC has appointed Kotak\u00a0Mahindra\u00a0Capital Company Ltd,\u00a0Axis Capital Ltd,\u00a0DSP Merrill Lynch Ltd,\u00a0Citigroup Global Markets India Pvt Ltd,\u00a0CLSA India Pvt Ltd,\u00a0HDFC Bank Ltd,\u00a0ICICI Securities Ltd,\u00a0IIFL Holdings Ltd,\u00a0JM Financial Ltd,\u00a0J.P. Morgan India Pvt Ltd,\u00a0Morgan Stanley India Company Pvt Lt and Nomura Financial Advisory and Securities (India) Pvt Ltd as the book running lead managers while Karvy Computershare Private Ltd is the registrar to the issue. According to a PTI report, HDFC AMC, which has a total asset under management of over Rs 3 lakh crore at the end of 31 March 2018, is the country's second-largest fund house after ICICI Prudential AMC that has an asset base of Rs 3.06 lakh crore during the same period.