NEW DELHI: HDFC Asset Management Company, the rustic's biggest mutual fund firm, has won Sebi's go-ahead to glide an preliminary public offer.
The company had filed draft papers with Securities and Exchange Board of India (Sebi) in March and won its "observations" on June 22, as according to the newest replace with the markets watchdog.
Sebi's observations are essential for any company to launch public issues like rights issue, preliminary public offer (IPO) and follow-on public offer (FPO).
HDFC AMC operates as a three way partnership between Housing Development Finance Corporation (HDFC) and Standard Life Investments.
Going by way of the draft papers, the proposed IPO offers up to 2.54 crore fairness shares of the fund area thru an offer for sale of 85.92 lakh shares by way of HDFC and up to 1.68 crore shares by way of Standard Life.
The offer comprises a net offer to public of up to 2.21 crore fairness shares, a reservation of up to 3.20 lakh shares for acquire by way of eligible HDFC AMC staff. Besides, 24 lakh shares were reserved for eligible HDFC shareholders.
Earlier, the regulator had saved HDFC AMC's proposed IPO in abeyance "for examination of past violations".
HDFC AMC, which has a complete asset beneath management of greater than Rs 3 lakh crore at the finish of March, would possibly become the second one AMC to hit the markets after Reliance Nippon Life AMC.
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 are the e-book operating lead managers to the problem.
Apart from HDFC AMC, Sebi has to this point this month given clearance to six other firms - Genius Consultants, Varroc Engineering, CreditAccess Grameen, Sandhya Marines, Atria Convergence Technologies and Nekkanti Sea Foods-- to launch IPOs. In all, 27 companies were given the go-ahead for preliminary share-sale this 12 months.
The public issue of Varroc Engineering, which is underway, will shut as of late.
The company had filed draft papers with Securities and Exchange Board of India (Sebi) in March and won its "observations" on June 22, as according to the newest replace with the markets watchdog.
Sebi's observations are essential for any company to launch public issues like rights issue, preliminary public offer (IPO) and follow-on public offer (FPO).
HDFC AMC operates as a three way partnership between Housing Development Finance Corporation (HDFC) and Standard Life Investments.
Going by way of the draft papers, the proposed IPO offers up to 2.54 crore fairness shares of the fund area thru an offer for sale of 85.92 lakh shares by way of HDFC and up to 1.68 crore shares by way of Standard Life.
The offer comprises a net offer to public of up to 2.21 crore fairness shares, a reservation of up to 3.20 lakh shares for acquire by way of eligible HDFC AMC staff. Besides, 24 lakh shares were reserved for eligible HDFC shareholders.
Earlier, the regulator had saved HDFC AMC's proposed IPO in abeyance "for examination of past violations".
HDFC AMC, which has a complete asset beneath management of greater than Rs 3 lakh crore at the finish of March, would possibly become the second one AMC to hit the markets after Reliance Nippon Life AMC.
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 are the e-book operating lead managers to the problem.
Apart from HDFC AMC, Sebi has to this point this month given clearance to six other firms - Genius Consultants, Varroc Engineering, CreditAccess Grameen, Sandhya Marines, Atria Convergence Technologies and Nekkanti Sea Foods-- to launch IPOs. In all, 27 companies were given the go-ahead for preliminary share-sale this 12 months.
The public issue of Varroc Engineering, which is underway, will shut as of late.
HDFC Mutual Fund gets Sebi go-ahead for IPO
![HDFC Mutual Fund gets Sebi go-ahead for IPO]()
Reviewed by Kailash
on
June 28, 2018
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