HDFC Asset Management Company is expected to report stellar growth performance in the long run at par with its listed group companies.
India’s second-largest fund house by assets under management, HDFC AMC, the subsidiary of Housing Development Finance Corpn (HDFC) is planning to raise around Rs 2,800 crore from its IPO, making it the fifth listed entity from HDFC group.
The anchor investor portion of the IPO will be open for subscription on 24 July 2018 whereas retail investors can start subscribing to the offer from 25 July 2018. The issue closes on Friday, July 27, 2018.
HDFC AMC IPO offers up to 2.54 crore equity shares of the fund house through an offer for sale (OFS) of 4.08% stake (85.92 lakh shares) by HDFC and up to 7.95% holding (1.68 crore shares) by Standard Life.
The shares will be listed both on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
Presently, HDFC Asset Management Company has 60,000 em panelled distribution partners across India. The Company is expected to report strong growth performance in the long run matching with its peers.
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