HDFC Asset Management Comany Ltd (AMC) IPO: Review, Recommendations, Dates, GMP, Live Subscription and Allotment Status - IPO Reviews

Sunday, March 25, 2018

HDFC Asset Management Comany Ltd (AMC) IPO: Review, Recommendations, Dates, GMP, Live Subscription and Allotment Status

Introduction:

Name of the Company: HDFC Asset Management Company Ltd
Promoters: HDFC Ltd and Standard Life
Based in: Mumbai
Year of Establishment: 1999
Business area: Assets management


HDFC Asset Management Comany Ltd (AMC) IPO: Review, Dates, Allotment Status
HDFC Asset Management Company Ltd (AMC) was incorporated on December 10, 1999, under the Companies Act, 1956. Later on July 3, 2000, it was approved as an Asset Management Company for the HDFC Mutual Fund by SEBI. Based in Mumbai, the company operates portfolio management and non-binding investment advisory services to its customers. 

HDFC Mutual Fund is 60% owned by the HDFC Ltd and the rest 40% is owned by the British Joint Venture partner, Standard Life. HDFC AMC has Rs 2.92 lakh crore worth of assets under management and is the most profitable AMC, which posted a net profit of Rs 550 crore for the year ended March 31, 2017.


Area of Business: Mutual Funds. The total assets managed by the company are valued at ‎Rs. 289167.79 crores. 

Issue Size: The promoter will be selling 25,457,555 equity shares of Face Value of Rs 5 per share.  

Share reservation:

HDFC AMC Employee Reservation Portion320,000 Equity Shares
HDFC Employee Reservation Portion560,000 Equity Shares
HDFC Shareholders Reservation Portion2,400,000 Equity Shares
QIB Portion11,088,776 Equity Shares
Non-Institutional Portion3,326,634 Equity Shares
Retail Portion7,762,145 Equity Shares



Issue Open Date

Issue Close Date
Listing Date
      
Face Value (Rs)
Rs 5
Offer Price Range (Rs)
Issue Price (Rs)

Issue Size
 25,457,555 equity shares 
Issue Type
Offer for sale of
Equity Shares by the Selling Shareholders. 
Market Lot

Listing At
NSE and BSE


Important Dates:

IPO Bid Opens On

IPO Bid Closes On

Finalisation of Basis of Allotment

Initiation of refunds

Credit of Equity Shares to the respective demat accounts

Trading of the Equity Shares on the Stock Exchange


News about the IPO across the websites:

  1. HDFC MF looks to raise Rs 4,000 crore via IPO 
  2. HDFC board approves HDFC AMC IPO, to hold 50% post public offer

Recommendations: 

SP Tulsian
Dilip Davda
Share Khan
Angel Broking
ICIC securities
Kotak Securities
Centrum Wealth Research

Financials:

The total revenue from the operations for the period ended December 31st, 2017 is Rs 13,167.21 crores. For the years FY17 and FY16, the total revenue stood at Rs 15,879.10 and Rs 14,943.42 crores respectively.

The Profit after Tax for the period ended December 31st, 2017 is Rs 4,955.55 crores. For FY17 and FY18, the PAT stood at Rs 5,502.46 and Rs 4,778.80 crores respectively.

The diluted EPS up to December 2017 is Rs 24.19 and for FY17 and FY16, the EPS was Rs 27.05 and Rs 23.56 respectively.

Use of proceeds of the Offer


The Company will not receive any proceeds from the Offer since the Offer is being made through an offer for sale of Equity Shares by the Selling Shareholders. 

Shares will be listed at BSE and NSE

Book Running Lead Managers: 

Kotak Mahindra Capital Company Limited
Axis Capital Limited
Citigroup Global Markets India Private Limited
CLSA India Private Limited
DSP Merrill Lynch Limited
HDFC Bank Limited
ICICI Securities Limited
IIFL Holdings Limited

Registrar to the Offer

Karvy Computershare Private Limited

Allotment Status:


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