HDFC AMC IPO to kick off on Wednesday: Here are 10 key things to know

HDFC Asset Management Company (AMC) will launch its initial public offering on Wednesday to raise Rs 2,800 crore. The proposed IPO offers up to 2.54 crore equity shares of the fund house through an offer for sale of 85.92 lakh shares (4.08 per cent stake) by HDFC and up to 1.68 crore shares (7.95 per cent holding) by Standard Life.

HDFC AMC operates as a joint venture between Housing Development Finance Corporation (HDFC) and Standard Life Investments. The fund house, which has a total AUM of over Rs 3 lakh crore at the end of March, is the country's second largest fund house after ICICI Prudential AMC that has an asset base of Rs 3.06 lakh crore.

It will become the second AMC to hit the markets after Reliance Nippon Life AMC, which had raised Rs 1,542 crore last year.

Here are key details of the issue:

1) Issue opens on: Wednesday, July 25, 2018

2) Issue closes on: July 27, 2018

3) Issue size: Rs 2,788 crore-2,800 crore

4) Number of shares: 25,457,555 Equity Shares

5) Face value: Rs 5

6) Reservation for:

HDFC AMC Employees - 320,000 Shares
HDFC Ltd Employees - 560,000 Shares
HDFC Ltd Shareholders - 2,400,000 Shares

7) Issue summary:

Price band: Rs. 1,095 – 1,100
Bid Lot: 13 shares and in multiple thereof.

8) Post issue implied market cap: 

Rs 23,213 crore – 23,319 crore

WATCH ZEE BUSINESS VIDEO HERE

9) Book Running Lead Managers (BRLMs):

Axis Capital, Kotak Mahindra Cap, DSP ML, Citigroup Global, CLSA India, HDFC Bank, ICICI Sec, IIFL Holdings, JM Financial, JP Morgan, Morgan Stanley, Nomura

10) Registrar: Karvy Computershare Pvt. Ltd.