HDFC IPO 2018: HDFC AMC IPO is one of the most awaited IPOs of 2018 and is the 5th listing within the HDFC group of companies. HDFC AMC, the country’s second-largest fund house in terms of average assets under management (AAUM), is planning to raise around Rs 2,800 crore from its initial public offering (IPO). The anchor investor portion of HDFC AMC IPO will be open for subscription on 24 July 2018 while retail investors can start subscribing to the offer from 25 July 2018.
HDFC AMC operates as a joint venture between Housing Development Finance Corporation Limited (“HDFC”) and Standard Life Investments Limited (“SLI”). Last week, Deepak Parekh, Chairman, HDFC said about this being the “apt time” to get the AMC listed. While addressing a press conference, Deepak Parekh said that the HDFC Group has always believed that listing reflects the value created in their key subsidiaries.
HDFC AMC IPO 2018 details: 11 key things to know
Issue opens: July 25, 2018, Wednesday. The IPO will be open for subscription by anchor investors on July 24, 2018, Tuesday.
Issue closes: July 27, 2018, Friday
Price band: The company has set a price band of Rs 1,095-1,100 per share
Issue size: 25,457,555 equity shares (comprises of offer for sale of up to 8,592,970 equity shares by HDFC Ltd and 16,864,585 equity shares by Standard Life Investments.
Offer size: Rs 2,787.6 crore-2,800.3 crore
Face Value: Rs 5
Book value: Rs 102.58 (March 31, 2018)
Bid size: 13 equity shares and in multiples thereof
Listing: BSE and NSE
Book Running Lead Manager: Kotak Mahindra Capital Company Ltd, Axis Capital Ltd, DSP Merrill Lynch Ltd, Citigroup Global Markets India Private Ltd, CLSA India Pvt Ltd, HDFC Bank Ltd, ICICI Securities Ltd, IIFL Holdings Ltd, JM Financial Ltd, J.P. Morgan India Pvt Ltd, Morgan Stanley India Company Pvt Ltd, Nomura Financial Advisory and Securities (India) Pvt Ltd
Registrar to issue: Karvy Computershare Private Limited