In the list of upcoming IPO in 2018 HDFC Asset Management Company, the country’s largest mutual fund firm has received Sebi’s go-ahead to float an initial public offering (IPO). The Tentative size of the Upcoming IPO HDFC AMC IPO is up to 2.54 crore equity shares of the fund house.
Upcoming IPO HDFC AMC IPO Updates:
HDFC AMC IPO:
- According to the draft papers, the proposed HDFC AMC IPO offers up to 2.54 crore equity shares of the fund house through an offer for sale of 85.92 lakh shares by HDFC and up to 1.68 crore shares by Standard Life.
- HDFC AMC IPO comprises a net offer of up to 2.21 crore equity shares for public, a reservation of up to 3.20 lakh shares for purchase by eligible HDFC AMC employees.
- HDFC AMC IPO, 24 lakh shares have been reserved for eligible HDFC shareholders.
- After Reliance Nippon Life AMC HDFC AMC become the second AMC to hit the market with total asset under the management of more than Rs 3 Lakh core at the end of March.
HDFC Asset Management Company Profile:
- The company was established as Public Limited Company on 10 December, 1999 as”HDFC Asset Management Company Limited”. a public limited company under the Companies Act, 1956 pursuant to a certificate of incorporation granted by the Registrar of Companies, Maharashtra (“RoC”).
- HDFC AMC operates as a joint venture between Housing Development Finance Corporation (HDFC) and Standard Life Investments (SLI).
- HDFC Asset Management Company is a established Fund House engaged in providing savings and Investment Products.
- HDFC is one of India’s leading housing finance companies. HDFC group has emerged as a recognized financial conglomerate in India, with a presence in housing finance, banking, life and non-life insurance, asset management, real estate funds and education finance.
- Standard Life Investments (SLI) is part of Standard Life Aberdeen plc (“Standard Life Aberdeen”) which is one of the world’s largest investment companies, created in 2017 from the merger of Standard Life plc and Aberdeen Asset Management Plc.
Objective of the HDFC AMC IPO:
Objectives of the HDFC AMC IPO are listed below.
- The objects of the Offer are to achieve the benefits of listing the Equity Shares on the Stock Exchanges
- Second objective is to carry out the sale of Equity Shares offered for sale by the Selling Shareholders.
- The Company expects that the listing of its Equity Shares will enhance its visibility and brand image, and will provide a public market for Equity Shares in India.
- The Company will not receive any proceeds from the Offer and all the proceeds from the Offer will be received by the Selling Shareholders, in proportion to the Equity Shares offered by the respective Selling Shareholders as part of the Offer.
Issue Details of HDFC AMC IPO:
- Issue Open:
- Issue close:
- Issue Type: Book Built Issue IPO
- Issue Size:25,457,555 Equity Shares of Rs 5 aggregating up to Rs [.] Cr
- Face Value: Rs 5 Per Equity Share
- Issue Price: Rs – Rs Per Equity Share
- Market Lot:
- Minimum Order Quantity:
- Listing At: BSE, NSE
Financial Summary of HDFC Asset Management Company Limited:
|Particulars||For the year/period ended (in Rs. Millions)|
|Profit After Tax||4,955.55||5,502.46||4,778.80||4,155.00||3,577.70||3,187.46|
Strength of the Company:
- Consistent market leadership position in the Indian mutual fund industry;
- Trusted brand and strong parentage;
- Strong investment performance supported by comprehensive investment philosophy and risk management;
- Superior and diversified product mix distributed through a multi-channel distribution network;
- Focus on individual customers and customer centric approach;
- Consistent profitable growth; and
- Experienced and stable management and investment teams.
HDFC AMC IPO Prospectus:
Promoters of the Company:
There are two promoters of the company. They are listed below
- HDFC holds 120,772,800 Equity Shares (57.36%)
- Standard Life Investment (SLI) holds 80,515,200 Equity Shares (38.24%)
Registered Address of the Company:
HDFC House, 2nd Floor, H.T. Parekh Marg, 165-166,
Backbay Reclamation, Churchgate, Mumbai 400 020,
Official Website of the Company:
HDFC AMC IPO Allotment Status:
HDFC AMC IPO allotment status will be available on Karvy Computershare’s website.
To check the status click at HDFC AMC IPO Allotment Status.
Lead Manager to the issue:
- Kotak Mahindra Capital Company Limited
- Axis Capital Limited
- DSP Merrill Lynch Limited
- Citigroup Global Markets India Private Limited
- CLSA India Private Limited
- HDFC Bank Limited#
- ICICI Securities Limited
- IIFL Holdings Limited
- JM Financial Limited
- P. Morgan India Private
- Morgan Stanley India Company
- Nomura Financial Advisory and
- Securities (India) Private Limited
Registrar to the HDFC AMC IPO:
Karvy Computershare Private Limited
Karvy House, 46, Avenue 4, Street No. 1,
Banjara Hills, Hyderabad – 500 034
Andhra Pradesh, India