Initial Public Offer to open on July 25, 2018 and to close on July 27, 2018

Share this News:

HDFC Asset Management Company Limited (the “Company” or “Issuer”), allotted 66,53,265 equity shares to 61 anchor investors (35 fund houses) at Rs. 1,100 per Equity Share aggregating to Rs. 731.86 crore.

Anchor investors include: ICICI PRUDENTIAL CAPITAL PROTECTION FUND SERIES VII PLAN H – 1284 DAYS – 0.23% of the total anchor allotment; ICICI PRUDENTIAL CAPITAL PROTECTION FUND SERIES VIII PLAN A – 1300 DAYS – 0.35%; ICICI PRUDENTIAL CAPITAL PROTECTION ORIENTED FUND SERIES IX PLAN A – 1101 DAYS – 0.51%; ICICI PRUDENTIAL CAPITAL PROTECTION ORIENTED FUND – SERIES IX – 1120 DAYS PLAN F – 0.19%; ICICI PRUDENTIAL CAPITAL PROTECTION FUND SERIES 8 – 1290 DAYS PLAN I – 0.02%; ICICI PRUDENTIAL CAPITAL PROTECTION FUND SERIES 8 – 1284 DAYS PLAN J – 0.11%; ICICI PRUDENTIAL CAPITAL PROTECTION FUND SERIES IX PLAN – C – 1195 DAYS – 0.24%; ICICI PRUDENTIAL CAPITAL PROTECTION FUND SERIES VI – 1825 DAYS PLAN – C – 0.07%; ICICI PRUDENTIAL MULTIPLE YIELD FUND SERIES VII – 1825 DAYS PLAN – B – 0.09%; ICICI PRUDENTIAL MULTIPLE YIELD FUND SERIES VII 1825 DAYS PLAN C – 0.23%; ICICI PRUDENTIAL BUSINESS CYCLE FUND SERIES 1 – 0.92%; ICICI PRUDENTIAL INDIA RECOVERY FUND – SERIES 1 – 0.77%; ICICI PRUDENTIAL VALUE FUND – SERIES 10 – 0.57%; ICICI PRUDENTIAL VALUE FUND – SERIES 5 – 0.07%; ICICI PRUDENTIAL VALUE FUND – SERIES 9 – 0.41%; SBI LIFE INSURANCE COMPANY LIMITED – 2.6% ; ASHOKA INDIA EQUITY INVESTMENT TRUST PLC – 1.31%; UTI – BANKING AND FINANCIAL SERVICES FUND – 1.31%; SMALLCAP WORLD FUND, INC – 9.56%; NATIONAL PENSION SERVICE MANAGED BY BLACKROCK INSTITUTIONAL TRUST COMPANY, NA – 2.6%; CARMIGNAC PORTFOLIO – 2.6%; AB FCP I – EMERGING MARKETS GROWTH PORTFOLIO – 1.31%; DSP BLACKROCK FOCUS FUND – 1.31%; DF INTERNATIONAL PARTNERS – 0.84%; RELIANCE CAPITAL TRUSTEE CO. LTD A/C RELIANCE BANKING FUND – 4.78%; KOTAK DEBT HYBRID – 0.14%; KOTAK EMERGING EQUITY SCHEME – 0.81%; KOTAK EQUITY OPPORTUNITIES FUND – 0.78%; KOTAK INDIA EQ CONTRA FUND – 0.49%; KOTAK INDIA GROWTH FUND SERIES 5 – 0.39%; L AND T MUTUAL FUND TRUSTEE LIMITED -L AND T LARGE AND MIDCAP FUND – 2.6%; CAMAS INVESTMENTS PTE LIMITED – 4.78%; IIFL FOCUSED EQUITY FUND – 2.6%; FRANKLIN TEMPLETON MUTUAL FUND A/C FRANKLIN INDIA PRIMA FUND – 2.6%; AUBURN LIMITED – 1.31%; ADITYA BIRLA SUNLIFE TRUSTEE PRIVATE LIMITED A/C ADITYA BIRLA SUNLIFE MIDCAP FUND – 1.37%; ADITYA BIRLA SUNLIFE TRUSTEE PRIVATE LIMITED A/C ADITYA BIRLA SUNLIFE BANKING AND FINANCIAL SERVICES FUND – 1.37%; ADITYA BIRLA SUNLIFE TRUSTEE PRIVATE LIMITED A/C ADITYA BIRLA SUNLIFE BALANCED ADVANTAGE FUND – 2.05%; RELIANCE STRATEGIC INVESTMENTS LIMITED – 4.78%; FIDELITY INVESTMENT TRUST – FIDELITY DIVERSIFIED INTERNATIONAL FUND – 1.73%; FIDELITY INVESTMENT TRUST: FIDELITY SERIES INTERNATIONAL GROWTH FUND – 1.55%; FIDELITY INVESTMENT TRUST FIDELITY SERIES EMERGING MARKETS FUND – 1.51%; HSBC INDIAN EQUITY MOTHER FUND – 2.6%; JUPITER SOUTH ASIA INVESTMENT COMPANY LIMITED – SOUTH ACCESS FUND – 1.31%; FIL INVESTMENTS (MAURITIUS) LTD – 4.78%; SBI LARGE AND MID CAP FUND – 1.78%; SBI SMALL CAP FUND – 1.78%; SBI RESURGENT INDIA OPPORTUNITIES SCHEME – 0.68%; SBI LONG TERM ADVANTAGE FUND – SERIES VI – 0.31%; SBI MAGNUM CHILDREN’S BENEFIT FUND – 0.14%; SBI EQUITY OPPORTUNITIES FUND SERIES I – 0.10%; AXIS MUTUAL FUND TRUSTEE LIMITED A/C AXIS MUTUAL FUND A/C AXIS MIDCAP FUND – 3.28%; GOLDMAN SACHS INDIA LIMITED – 2.6%; THE REGENTS OF THE UNIVERSITY OF CALIFORNIA-STATE STREET GLOBAL ADVISORS – 2.6%; GENERATION IM ASIA FUND LP – 1.31%; BNP PARIBAS MUTUAL FUND A/C BNP PARIBAS ARBITRAGE FUND – 0.44%; BNP PARIBAS MUTUAL FUND A/C BNP PARIBAS MULTI CAP FUND – 0.49%; COLUMBIA EMERGING MARKETS FUND – 1.31%; GOLDMAN SACHS (SINGAPORE) PTE – 5.05%; ABU DHABI INVESTMENT AUTHORITY – RELVAL – 4.78%; and TVF FUND LIMITED – 0.84%.

The Company proposes to open an initial public offering of up to 25,457,555 equity shares of face value of Rs. 5 Each (“Equity Shares”) for cash through an offer for sale of up to 8,592,970 Equity Shares by Housing Development Finance Corporation Limited and up to 16,864,585 Equity Shares by Standard Life Investments Limited (together, “Promoter Selling Shareholders” and such offering, the “Offer”). The Offer comprises a Net Offer to the Public of up to 22,177,555 Equity Shares (“Net Offer”), a reservation of up to 320,000 Equity Shares (constituting up to 0.15% of the post-Offer paid up Equity Share Capital) for purchase by the Eligible HDFC AMC Employees (as defined In “Definitions and Abbreviations”) (“HDFC AMC Employee Reservation Portion”), a reservation of up to 560,000 Equity Shares (constituting up to 0.26% of the post-Offer paid up Equity Share Capital) for purchase by the Eligible HDFC Employees (as defined in “Definitions and Abbreviations”) (“HDFC Employee Reservation Portion”) and a reservation of up to 2,400,000 Equity Shares (constituting up to 1.13% of the post-Offer Paid Up Equity Share Capital) for purchase by Eligible HDFC Shareholders (As defined In “Definitions and Abbreviations”) (“HDFC Shareholders Reservation Portion”). The Offer and the Net Offer shall constitute 12.01% and 10.46% of the Post-Offer Paid-Up Equity Share Capital of the Company, respectively.

The Bid/Offer Period closes on July 27, 2018.

The Price Band for the Offer is from Rs. 1,095 to Rs. 1,100 per Equity Share. Bids can be made for a minimum lot of 13 Equity Shares and in multiples of 13 Equity Shares thereafter.

The Equity Shares are proposed to be listed on BSE and NSE.

The Book Running Lead Managers (“BRLMs”) to the Offer are Kotak Mahindra Capital Company Limited, Axis Capital Limited, DSP Merrill Lynch Limited, Citigroup Global Markets India Private Limited, CLSA India Private Limited, HDFC Bank Limited, ICICI Securities Limited, IIFL Holdings Limited, JM Financial Limited, J. P. Morgan India Private Limited, Morgan Stanley India Company Private Limited and Nomura Financial Advisory and Securities (India) Private Limited.

The Offer is being made through the Book Building Process and in accordance with Regulation 26(1) of the ICDR Regulations, wherein not more than 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”), provided that the Company and the Promoter Selling Shareholders, in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis, of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not less than 15% of the Net Offer shall be available for allocation on a proportionate basis to Non-Institutional Investors and not less than 35% of the Net Offer shall be available for allocation on a proportionate basis to Retail Individual Investors, in accordance with the ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All Bidders, other than Anchor Investors, are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective bank accounts which will be blocked by the Self Certified Syndicate Banks (“SCSBs”), to participate in this Offer. Anchor Investors are not permitted to participate in the Offer through the ASBA process.