HDFC AMC to list on bourses on August 6

The public issue was subscribed 83.06 times receiving bids for 156.19cr equity shares against IPO size of 1.88cr shares (excluding anchor portion).

Aug 03, 2018 08:08 IST India Infoline News Service

Dalal Street
HDFC AMC is scheduled to get listed on BSE and NSE on August 6, 2018. The public issue was subscribed 83.06 times receiving bids for 156.19cr equity shares against IPO size of 1.88cr shares (excluding anchor portion).

The reserved portion of qualified institutional investors oversubscribed by 192.26 times, non-institutional investors 195.15 times and retail 6.73 times.

The IPO, which was sold between July 25-27, saw huge response even though it was priced at a 20% premium to Reliance Nippon's valuation.

HDFC AMC operates as a joint venture between Housing Development Finance Corporation Ltd and Standard Life Investments Ltd. As of March 31, 2018, its equity-oriented AUM and non-equity-oriented AUM constituted Rs1,49,713cr and Rs1,42,273cr, respectively of its total AUM. Its AUM has grown at a CAGR of 25.5% between March 31, 2013 and March 31, 2018.

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