Bookbuilding IPO | ₹2,800 Cr | Listed at BSE, NSE | Wed, Jul 25, 2018 - Fri, Jul 27, 2018
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 ₹1,100 per share. The lot size for an application is 13. The minimum amount of investment required by an retail is ₹14,300 (13 shares) (based on upper price). 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 Open
Wed, Jul 25, 2018
IPO Close
Fri, Jul 27, 2018
Issue Price
₹1100 per share
Market Cap (Pre-IPO)
₹23,318.77 Cr
| IPO Date | 25 to 27 Jul, 2018 |
| Listed on | Mon, Aug 6, 2018 |
| Face Value | ₹5 per share |
| Price Band | ₹1095 to ₹1100 |
| Issue Price | ₹1100 per share |
| Lot Size | 13 Shares |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,54,57,555 shares (agg. up to ₹2,800 Cr) |
| Offer for Sale | 2,54,57,555 shares of ₹5 (agg. up to ₹2,800 Cr) |
| Share Holding Pre Issue | 21,19,88,800 shares |
| Share Holding Post Issue | 21,19,88,800 shares |
| BSE Script Code / NSE Symbol | 541729 / HDFCAMC |
| ISIN | INE127D01025 |
HDFC AMC IPO comprises a total issue size of 2,54,57,555 shares. The net offer to the public is 2,21,77,555 shares, after excluding 32,80,000 shares under a preferential allotment. Of the Net offer 1,10,88,776 (50.00%) are allocated to QIB, 33,26,634 (15.00%) allocated to NII 77,62,145 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 1,10,88,776 | 50.00% | 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 | 15.00% | 13.07% | NA |
| Retail Shares Offered | 77,62,145 | 35.00% | 30.49% | 5,97,088 |
| Preferential Reservations | ||||
| 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% | 100.00% | |
Investors can bid for a minimum of 13 shares and in multiples thereof.
| 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 |
HDFC AMC IPO raises ₹731.86 crore from anchor investors. HDFC AMC IPO Anchor bid date is July 24, 2018.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Jul 24, 2018 |
| Shares Offered | 66,53,265 |
| Anchor Portion (₹ Cr.) | 731.86 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Aug 31, 2018 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Oct 30, 2018 |
| 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 | 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:
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.
| Period Ended |
|---|
| Amount in ₹ Crore |
The HDFC AMC IPO is subscribed 82.99 times on July 27, 2018 6:44:04 PM (Day 3). The public issue subscribed 6.57 times in the retail category, 192.26 times in the QIB category, and 195.15 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 192.26 | 44,35,511 | 85,27,59,362 |
| NII | 195.15 | 33,26,634 | 64,91,83,951 |
| Retail | 6.57 | 77,62,145 | 5,10,10,271 |
| Employee | 1.51 | 8,80,000 | 13,32,539 |
| Others | 2.65 | 24,00,000 | 63,50,565 |
| Total | 82.99 | 1,88,04,290 | 1,56,06,36,688 |
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 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to BRLMs | 20.00 |
| 2 | Selling commission and processing fees for SCSBs | 3.83 |
| 3 | Selling commission, brokerage, and bidding charges for the Syndicate Members, Registered Brokers, RTAs and CDPs | 3.62 |
| 4 | Fees payable to Registrar to the Offer | 2.79 |
| 5 | Printing and stationary expenses | 4.70 |
| 6 | Advertising and marketing expenses | 7.20 |
| 7 | Listing fees | 0.07 |
| 8 | SEBI and Stock Exchanges processing fees | 4.39 |
| 9 | Book building fees payable to Stock Exchanges | 1.50 |
| 10 | Fees payable to Auditors | 2.00 |
| 11 | Fees payable to legal counsels | 6.00 |
| 12 | Miscellaneous | 5.50 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹1,100.00 | ₹1,100.00 |
| Open | ₹1,739.00 | ₹1,726.25 |
| Low | ₹1,730.00 | ₹1,726.25 |
| High | ₹1,842.95 | ₹1,844.00 |
| Last Trade | ₹1,815.15 | ₹1,815.95 |
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 Crores. The issue is priced at ₹1100 per share. The minimum order quantity is 13.
The IPO opens on Wed, Jul 25, 2018, and closes on Fri, Jul 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 Wed, Jul 25, 2018 and closes on Fri, Jul 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 Fri, Aug 3, 2018. Check the HDFC AMC IPO allotment status.
The HDFC AMC IPO listing date is on Mon, Aug 6, 2018.
