HDFC Asset Management Company Ltd files DRHP for IPO

HDFC Asset Management Company Ltd (HDFC AMC), a subsidiary of Housing Development Finance Corporation Limited (HDFC) has on March 15, 2018, filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for a public offer of up to 2,54,57,555 equity shares of Rs. 5 each of HDFC AMC for cash through an offer for sale of 85,92,970 equity shares by HDFC and 1,68,64,585 equity shares by Standard Life Investments Ltd.

The IPO includes:

- up to 3,20,000 equity shares for purchase by eligible HDFC AMC employees

- up to 5,60,000 equity shares for purchase by eligible HDFC employees

- up to 24,00,000 equity shares for purchase by individual and Hindu Undivided Family shareholders of HDFC as on the date of the draft red herring prospectus of HDFC AMC i.e., March 14, 2018 and

- up to 7,20,000 equity shares in favour of empanelled distribution partners of HDFC AMC in India, subject to regulatory approvals.

Shares of HOUSING DEVELOPMENT FINANCE CORP.LTD. was last trading in BSE at Rs.1846.3 as compared to the previous close of Rs. 1863.25. The total number of shares traded during the day was 40774 in over 1000 trades.

The stock hit an intraday high of Rs. 1863.25 and intraday low of 1838.2. The net turnover during the day was Rs. 75189068.

Source : Equity Bulls

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