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Last Updated : Jul 28, 2018 11:19 PM IST | Source: Moneycontrol.com

HDFC AMC fixes final offer price at Rs 1,100 per share, raises Rs 2,800.33 crore via IPO

HDFC AMC raised Rs 2,800.33 crore through the IPO which consisted of 2,54,57,555 equity shares.

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HDFC Asset Management Company, one of the largest mutual fund firms, has fixed final offer price at Rs 1,100 per share on Saturday.

Housing Development Finance Corporation informed exchanges that company, HDFC Asset Management Company and Standard Life Investments in consultation with the book running lead managers have finalised the offer price at Rs 1,100 per share for the IPO.

Accordingly, the company raised Rs 2,800.33 crore through the IPO which consisted of 2,54,57,555 equity shares.

The public issue of HDFC Asset Management Company, on Friday, received overwhelming response from institutional investors and received bids for 156.19 crore equity shares against IPO size of 1.88 crore shares (excluding anchor portion).

The offer oversubscribed by 83.06 times as per data available on the NSE.

The reserved portion of qualified institutional investors oversubscribed by 192.26 times, non-institutional investors 195.15 times and retail 6.73 times.

The issue received bids worth Rs 1.72 lakh crore against the IPO size of Rs 2,800 crore. The price band for the issue was fixed at Rs 1,095-1,100 per share.

HDFC Asset Management Company on Tuesday already garnered Rs 732 crore by 6,653,265 shares to anchor investors.

The issue comprised an offer for sale of up to 85,92,970 equity shares by Housing Development Finance Corporation and up to 1,68,64,585 equity shares by Standard Life Investments.

HDFC AMC is the joint venture between Housing Development Finance Corporation and Standard Life Investments.

Kotak Mahindra Capital, Axis Capital, DSP Merrill Lynch, Citigroup Global Markets India, CLSA India, HDFC Bank, ICICI Securities, IIFL Holdings, JM Financial, J P Morgan India, Morgan Stanley India and Nomura Financial Advisory were book running lead managers to the issue.
First Published on Jul 28, 2018 11:19 pm
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