NEW DELHI: HDFC Asset Management Company (AMC) made an impressive debut on the bourses on Monday as the stock got listed at Rs 1,739 on BSE at a 58 per cent premium against the issue price of Rs 1,100.
The stock got listed both on NSE and BSE.
The company concluded its IPO last month. HDFC AMC's Rs 2,800-crore initial public offer was open during July 25-27. Price band for the offer was fixed at Rs 1,095-1,100 per share. The IPO was of 25,457,555 shares, including anchor portion of 6,653,265 shares.
Ahead of the IPO, the company garnered Rs 732 from anchor investors. The company's IPO committee had finalised allocation of 66,53,265 equity shares to 35 anchor investors at Rs 1,100 per scrip, the firm had said in a regulatory filing.
It will become the second AMC to hit the markets after
Reliance Nippon Life AMC, which had raised Rs 1,542 crore last year.
HDFC AMC operates as a joint venture between Housing Development Finance Corporation (HDFC) and Standard Life Investments.
HDFC AMC has total assets under management of over Rs 3 lakh crore as of March-end.
Kotak Mahindra Capital Company, 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 managed the company's IPO.
