HDFC AMC IPO: One of the most awaited IPOs of 2018, HDFC AMC will be open on 25 July 2018 in order to raise up to Rs 945.23 crore at the upper end of the price band of Rs 1,100. “The board of directors of the corporation had approved offering up to 85,92,970 equity shares of Rs 5 each of HDFC AMC representing 4.08% of its then existing issued and paid-up equity share capital, by way of an offer for sale in the proposed IPO of HDFC AMC,” HDFC said in an exchange filing on 17 July. The IPO of HDFC Asset Management Company will remain open from 25 to 27 July, both day’s inclusive.
This will be the fourth IPO from the financial conglomerate HDFC group. The Red Herring Prospectus (RHP) dated 13 July 2018 filed by HDFC AMC with the Registrar of Companies, Maharashtra at Mumbai, has been approved on 17 July 2018, HDFC said in a statement. HDFC will be offloading about 4.08% of the total paid-up capital share capital and has fixed a price band of Rs 1,095 to Rs 1,100. The anchor investor portion allotment in HDFC AMC IPO will be done on 24 July 2018. Investors can bid for a minimum of 13 equity shares and in multiples of 13 equity shares thereafter.
HDFC will be offering 85.92 lakh equity shares of HDFC AMC, which translates into Rs 945.23 crore at the upper price band of Rs 1,100. Kotak Mahindra Capital Company Ltd, Axis Capital Ltd, DSP Merrill Lynch Ltd, Citigroup Global Markets India Pvt 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 Lt and Nomura Financial Advisory and Securities (India) Pvt Ltd have been appointed as the book running lead managers to the high profile public issue while Karvy Computershare Private Ltd is the registrar.