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HDFC AMC IPO is a book build issue of ₹2,800.33 crores. The issue is entirely an offer for sale of 2.55 crore shares of ₹2,800.33 crore.
HDFC AMC IPO bidding started from Jul 25, 2018 and ended on Jul 27, 2018. The allotment for HDFC AMC IPO was finalized on Aug 1, 2018. The shares got listed on BSE, NSE on Aug 6, 2018.
HDFC AMC IPO price band is set at ₹1100.00 per share . The lot size for an application is 13. The minimum amount of investment required by an retail is ₹14,235 (13 shares). The lot size investment for sNII is 14 lots (182 shares), amounting to ₹2,00,200, and for bNII, it is 70 lots (910 shares), amounting to ₹10,01,000.
The issue includes a reservation of up to 8,80,000 shares for employees offered at a discount of ₹0.00 to the issue price.
Axis Capital Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to HDFC AMC IPO RHP for detailed Information.
| IPO Date | July 25, 2018 to July 27, 2018 |
| Listing Date | August 6, 2018 |
| Face Value | ₹5 per share |
| Issue Price Band | ₹1095 to ₹1100 per share |
| Issue Price Final | ₹1100 per share |
| Lot Size | 13 Shares |
| Sale Type | Offer For Sale |
| Total Issue Size | 2,54,57,555 shares (aggregating up to ₹2,800.33 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 21,19,88,800 shares |
| Share Holding Post Issue | 21,19,88,800 shares |
HDFC AMC IPO offers total 2,54,57,555 shares. Out of which 1,10,88,776 (43.56%) allocated to QIB, 44,35,511 (17.42%) allocated to QIB, 33,26,634 (13.07%) allocated to NII, 77,62,145 (30.49%) allocated to RII and 66,53,265 (26.13%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 1,10,88,776 (43.56%) | NA |
| − Anchor Investor Shares Offered | 66,53,265 (26.13%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 44,35,511 (17.42%) | NA |
| NII (HNI) Shares Offered | 33,26,634 (13.07%) | NA |
| Retail Shares Offered | 77,62,145 (30.49%) | 5,97,088 |
| Employee Shares Offered | 8,80,000 (3.46%) | NA |
| Shareholders Shares Offered | 24,00,000 (9.43%) | NA |
| Total Shares Offered | 2,54,57,555 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only shareholder | Up to Rs 2 Lakhs | Allowed only if bidding amount is upto Rs 2 lakhs |
| Only employee | Up to | Yes |
| Employee + Shareholder |
|
Yes |
| Employee + Shareholder + RII/NII |
|
Yes for shareholder/employee/RII |
| Shareholder + RII/NII |
|
Yes for shareholder/RII |
| Employee + RII/NII |
|
Yes for shareholder/RII |
Note: To be eligible for the Shareholder Quota, you must hold shares in one of the following companies:
HDFC AMC IPO opens on July 25, 2018, and closes on July 27, 2018.
| IPO Open Date | Wed, Jul 25, 2018 |
| IPO Close Date | Fri, Jul 27, 2018 |
| Tentative Allotment | Wed, Aug 1, 2018 |
| Initiation of Refunds | Thu, Aug 2, 2018 |
| Credit of Shares to Demat | Fri, Aug 3, 2018 |
| Tentative Listing Date | Mon, Aug 6, 2018 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Jul 27, 2018 |
Investors can bid for a minimum of 13 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 13 | ₹14,300 |
| Retail (Max) | 13 | 169 | ₹1,85,900 |
| S-HNI (Min) | 14 | 182 | ₹2,00,200 |
| S-HNI (Max) | 69 | 897 | ₹9,86,700 |
| B-HNI (Min) | 70 | 910 | ₹10,01,000 |
Incorporated in 1999, Mumbai based HDFC Asset Management Company (HDFC AMC) Limited is well-known fund house engaged in providing savings and investment products. It is a joint venture between Housing Development Finance Corporation Limited (HDFC) and Standard Life Investments Limited (SLI). SLI is part of Standard Life Aberdeen plc., one of the world's largest investment company.
According to CRISIL, as of December 31, 2017, HDFC AMC has been the most profitable AMC of the country in terms of net profits since Fiscal 2013 with a total AUM (Assets Under Management) of Rs 2,932.54 billion. Its profits has grown every year since 2002.
It has been the largest AMC in equity-oriented AUM since the last quarter of Fiscal 2011 and has consistently been among the top two asset management companies in India in terms of total average AUM since the month of August 2008..
HDFC AMC offers a wide range of savings and investment products across asset classes. As of December 31, 2017, it offered 127 schemes categorized into-
The company also provides portfolio management and segregated account services to HNIs, family offices, trusts, domestic corporates and provident funds etc. As of December 31, 2017, it managed a total AUM of Rs 75.78 billion as part of its portfolio management and segregated account services' business.
Strengths-
1. Brand reputation of HDFC and SLI helps in earning the trust of customers.
2. Consistent investment performance over the years has helped it established itself as one of the leading AMC in the country
3. Diversified product mix with a multi-channel distribution network helps it expand its reach.
4. Strong profitable growth, over the years, provides it with resources to fund future growth.
| Particulars | For the year/period ended (in Rs. Millions) | |||||
|---|---|---|---|---|---|---|
| 31-Dec-17 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | |
| Total Assets | 25,831.58 | 15,995.90 | 14,227.17 | 13,117.50 | 11,213.36 | 8,294.39 |
| Total Revenue | 13,167.21 | 15,879.10 | 14,943.42 | 10,642.76 | 9,031.14 | 7,839.76 |
| Profit After Tax | 4,955.55 | 5,502.46 | 4,778.80 | 4,155.00 | 3,577.70 | 3,187.46 |
The objects of the Offer-
1. To carry out the sale of Equity Shares offered for sale by the Selling Shareholders.
2. Enhance the company's visibility and brand image,
3. Provide a public market for Equity Shares in India.
The Company will not receive any proceeds from the Offer and all the proceeds from the Offer will be received by the Selling Shareholders.
[Dilip Davda] MF Industry in India is at 11% of GDP as per last fiscal reports against world average of around 32%. Advance countries have 60% to 100% of their GDPs in MF investment. Post demonatization, this industry got preference as the investment option among larger masses. MF Industry in India is set to grow in double digits for coming 5-8 years and HDFC AMC being most preferred private sector MF is set for bright prospects. Thus although prima facie it is fully priced, group's fancy among investors across the board and outperforming track record of HDFC AMC, makes this issue a worthy bet for medium to long term. Read detail review...
Click here to read FAQ's about HDFC AMC IPO
| Category | Shares Offered |
| QIB | 44,35,511 |
| NII | 33,26,634 |
| Retail | 77,62,145 |
| Eligible HDFC AMC Employees | 320,000 |
| Eligible HDFC Employees | 560,000 |
| Eligible HDFC Shareholders FAQs | 2,400,000 |
| Total | 1,88,04,290 |
| Financial | HDFC AMC | Reliance AMC | ICICI AMC |
|---|---|---|---|
| Revenue Growth | 19.7% | 23.8% | 36.1% |
| Net Profit Growth | 19.2% | 17.8% | 36.0% |
| AUM Growth | 27.5% | 21.1% | 30.1% |
| Return on Equity | 33.4% | 22.8% | 76.0% |
| Return on Asset | 36.4% | 22.6% | 58.0% |
| Revenue (% of AUM) | 0.59% | 0.40% | 0.59% |
| Net Profit (% of AUM) | 0.24% | 0.13% | 0.20% |
| Total Expense (% of AUM) | 0.27% | 0.27% | 0.31% |
| Key Ratio | HDFC AMC | Reliance AMC |
|---|---|---|
| Price-to-Earning (x) | 32.3 | 27.1 |
| Price-to-Book (x) | 10.8 | 6.2 |
| Market Cap As % Of Total AUM | 7.8 | 3.6 |
| Listing Date | August 6, 2018 |
| BSE Script Code | 541729 |
| NSE Symbol | HDFCAMC |
| ISIN | INE127D01025 |
| Final Issue Price | ₹1100 per share |
HDFC Asset Management Co.Ltd.
HDFC House, 2nd Floor, H.T. Parekh Marg
165-166, Backbay Reclamation
Churchgate, Mumbai 400 020, Maharashtra,
Mumbai, Maharashtra
Phone: +91 (22) 6631 3333
Email: shareholders.relations@hdfcfund.com
Website: http://www.hdfcfund.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://ipostatus.kfintech.com/
Lead Manager Reports
HDFC AMC IPO is a main-board IPO of 2,54,57,555 equity shares of the face value of ₹5 aggregating up to ₹2,800.33 Crores. The issue is priced at ₹1100 per share. The minimum order quantity is 13.
The IPO opens on July 25, 2018, and closes on July 27, 2018.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in HDFC AMC IPO using UPI as a payment gateway. Zerodha customers can apply in HDFC AMC IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in HDFC AMC IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The HDFC AMC IPO opens on July 25, 2018 and closes on July 27, 2018.
HDFC AMC IPO lot size is 13, and the minimum amount required for application is ₹14,300.
You can apply in HDFC AMC IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for HDFC AMC IPO will be done on Wednesday, August 1, 2018, and the allotted shares will be credited to your demat account by Friday, August 3, 2018. Check the HDFC AMC IPO allotment status.
The HDFC AMC IPO listing date is on Monday, August 6, 2018.
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