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HDFC Mutual Fund IPO To Hit Market On July 25


Sebi has given the go-ahead to the HDFC Mutual fund's IPO which will hit the primary market on July 25. The timing for the IPO is being considered as favourable, nonetheless the valuation of the IPO is likely to be lower than expected amount of Rs 350 billion.

As per the final approval from the Registrar of Companies or RoC is being waited while the SEBI has come up with its final observations on the public issue of HDFC Mutual Fund IPO. And bankers expect the issue to be valued in the range of Rs 270 billion and Rs 330 billion.

HDFC Mutual Fund IPO To Hit Market On July 25

With an issue size of Rs 350 billion, HDFC MF would have been valued at 11 per cent of its total assets under management (AUM) as of March 31. The company has a comparatively higher share when it comes to equity assets which attributes to its higher profitability. Also as of December 2017, the company was the top asset management company in respect of the share of equity assets.

Among all other AMCs, ICICI Prudential MF came at the second spot with highest share of assets under management only next to HDFC MF.

Read more about: hdfc mutual fund ipo
Story first published: Saturday, July 14, 2018, 12:13 [IST]
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