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HDFC Mutual Fund to launch IPO on July 25, price band fixed at Rs 1,095 to 1,100 per share
The IPO will open for subscription of anchor investors on Tuesday, July 24, 2018. The minimum bid lot for the IPO has been fixed at 13 equity shares and applications may be made in multiples of 13 equity shares thereafter.
HDFC AMC to launch IPO on July 25, price band fixed at Rs 1,095 to 1,100 per share

Country's second-largest mutual fund firm by assets HDFC Asset Management Company (AMC) would launch its initial public offer IPO on July 25 at a price band of Rs 1,095 to 11,00 per share.  Mortgage lender HDFC in an intimation to the bourses said up to 85,92,970 equity shares of Rs 5 each of HDFC AMC representing 4.08% of its then existing issued and paid-up equity share capital would be on offer. HDFC Mutual Fund plans to raise Rs 2,800 crore in one of the biggest IPOs in India this year.

The IPO will open for subscription by anchor investors on Tuesday, July 24, 2018.

The minimum bid lot for the IPO has been fixed at 13 equity shares and applications may be made in multiples of 13 equity shares thereafter.

The fund house had filed preliminary papers with Sebi in March, seeking its approval to float an IPO.

HDFC AMC operates as a joint venture between Housing Development Finance Corporation (HDFC) and Standard Life Investments.

Nomura Financial Advisory and Securities (India), Kotak Mahindra Capital, Axis Capital, BofA Merrill Lynch, Citigroup Global Markets India, CLSA India, HDFC Bank, ICICI Securities, IIFL Holdings, JM Financial, JP Morgan India, Morgan Stanley India have been appointed to manage the company's public issue.

Earlier this year, the IPO of the brokerage firm ICICI Securities, part of ICICI group was held between March 22 to March 26 in a price band of Rs 519-520.

The share sale of the leading brokerage firm, which was to raise up to Rs 4,016 crore, received around 88 per cent subscription, including the anchor portion, on the last day. ICICI Securities had to cut the size of its initial public offer to little over Rs 3,500 crore after the sale elicited a sluggish response, especially from high networth individuals.

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