HDFC AMC IPO: Subscription opens to a brisk start

HDFC Asset Management Company’s public offer had a good opening with over one-third shares being subscribed in the first few hours of its first day on Wednesday. HDFC AMC is a joint venture between the parent company – Housing Development Finance Corporation (HDFC) and Standard Life Investments. As per NSE data made available till afternoon, HDFC AMC’s Rs 2,800 crore public offer had received bids for 64,90,705 shares against a total issue of 1,88,04,290 shares. The IPO has an anchor portion of 6,653,265 shares for a total of 25,457,555 shares which have been priced at Rs 1095-1,100 per share.