On the last day of subscription to the HDFC AMC IPO offer i.e. on Friday, the issue received encouraging response from the institutional investor class. At 7:45 pm, the issue was oversubscribed by 83.03 times.
As per the data on the NSE website, the Rs 2,800-crore initial public offer of HDFC AMC IPO received bids for a total of 156.13 crore equity shares against 1.88 crore shares on offer via the public issue ( that excludes anchor portion). This totals to bids received for Rs. 1.72 lakh crore as against the issue size of Rs. 2,800 crore.
The overall IPO includes 2,54,57,555 equity shares for subscription that includes anchor portion of 6,653,265 shares..
The price band for the issue was Rs 1,095-1,100 for a share.
Through anchor investors alone, the issue mopped up as much as Rs. 732 crore on Tuesday.
The issue of HDFC AMC IPO entails an offer for sale (OFS) of up to 85,92,970 equity shares by Housing Development Finance Corporation and up to 1,68,64,585 equity shares by Standard Life Investments.
The portion reserved for qualified institutional investors has been over-subscribed 192.25 times while that set aside for retail and non-institutional investor category has received bids in excess of 6.67 and 195.15 times, respectively.
HDFC AMC is the joint venture company between Housing Development Finance Corporation and Standard Life Investments. Kotak Mahindra Capital, Axis Capital, DSP Merrill Lynch, Citigroup Global Markets India, CLSA India, HDFC Bank, ICICI Securities, IIFL Holdings, JM Financial, J P Morgan India, Morgan Stanley India and Nomura Financial Advisory are book running lead managers to the issue.