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HDFC AMC IPO hits Capital Market this week

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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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MoneyMaker Research News – Best Stock, Commodity Tips for Today

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best stock tipsThe Indian Rupee beat firmness v/s USD in early trades on Tuesday, 22 August 2017 on bigger selling of the US currency, by exporters and banks. In addition, the weakness of USD against major currencies overseas and a pickup in domestic stocks opening kept the domestic unit in good mood. The Rupee opened at Rs 64.06 against the USD but fell to a low of 64.09 so far during the day. The rupee gained 5.90% while FII’s bought USD 7.35 billion in equity market and USD 19.06 billion in debt markets, so far this year.

Live Market Update: At 12 PM, the BSE Sensex was trading at 31,366 up 107 points, whereas NSE Nifty was alongside at 9,795 up 41 points. A total of 15 stocks hit a fresh 52-week high in trade, while 48 stocks registered a new 52-week low on the NSE.

Rising Stocks: Dr Reddy Laboratories was top gainer in the index trading at Rs 1,975.95share apiece, up by 2.32 percent. In parallel, Lupin and Divi’s Lab are also trading in positive terrain higher by more than 1 percent.

Money Maker Research, the best advisory firm in India, provides best stock market tips with high accuracy. Get best stock market tips, Commodity tips, Currency tips and recommendations for long term and short terms.