HDFC AMC IPO to open on Jul 25, fixes price band at Rs 1095-1100

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New Delhi, Jul 18: HDFC Asset Management Company, the subsidiary of Housing Development Finance Corporation, has decided to open its initial public offering for subscription next week.
HDFC informed exchanges that the IPO will be open for subscription by anchor investors on July 24. “And the IPO will remain open for public from July 25 to July 27.”
The price band for the IPO is fixed at Rs 1,095 to Rs 1,100 per share.
Bids can be made for a minimum lot of 13 equity shares and in multiples of 13 equity shares thereafter.
In March, the board of directors of HDFC had approved offering up to 85,92,970 equity shares of Rs 5 each of HDFC AMC representing 4.08 percent of its then existing issued and paid-up equity share capital, by way of an offer for sale in the proposed IPO of HDFC AMC.
As per draft red herring prospectus filed with capital market regulator on March 14, the 2,54,57,555 equity shares’ initial public offering consists of an offer for sale of up to 85,92,970 equity shares by HDFC and and up to 1,68,64,585 shares by Standard Life Investments.
HDFC AMC aims to raise Rs 2,787.60-2,800.33 crore through the public issue.
The Red Herring Prospectus (RHP) dated July 13 filed by HDFC AMC with the Registrar of Companies, Maharashtra was approved on July 17.
Kotak Mahindra Capital Company, Axis Capital, DSP Merrill Lynch, Citigroup Global Markets India, CLSA India, HDFC Bank, ICICI Securities, IIFL Holdings, JM Financial, JP Morgan India, Morgan Stanley India Company, and Nomura Financial Advisory and Securities (India) are book running lead managers to the issue.
Equity shares are proposed to be listed on BSE and NSE India.