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HDFC AMC
- 2. INTRODUCTION Incorporated on 10thDecember, 1999 Approved by SEBI on 3th July, 2000 It is the joint venture of HDFC and Standard Life Insurance. Largest AMC in equity-oriented AUM since the last quarter of Fiscal 2011 As of December 31, 2017, it managed a total AUM of ₹75.78 billion as part of its portfolio management and segregated account services' business.
- 3. An Initial PublicOffer (IPO) is the first sale of equity shares of any company in the open market. The IPO is either a Fixed Price Issue or Price discovery is done through a book building process. During the IPO, a fraction of the shares are reserved for different types of investors, including Retail (individual investors), Qualified Institutional Buyers and High Net worth Individuals. IPO
- 4. • Book buildingis the process by which an underwriter attempts to determine the price to place an initial public offering (IPO) based on demand from institutional investors. • An underwriter builds a book by accepting orders from fund managers, indicating the number of shares they desire and the price they are willing to pay. What is 'Book Building‘
- 5. Book Building process CompanyPlans the IPO via the book building round Appointment of merchant banker as a book runner Issue a draft prospectus (contain mandatory company closure other than price) Drift prospectus field simultaneously with concern authority (SEBI)
- 6. Price discovery beginsthrough the bidding process Book runner Appoints syndicate member and register intermediary to garner subscription At close of bidding, book runner and company decide upon the allocation and allotment
- 7. • A merchantbank is a financial institution that provides capital to companies in the form of share ownership instead of loans. • A merchant bank also provides advisory on corporate matters to the firms they lend to. Who are the merchant banker
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- 9. HDFC AMC IPOLead Managers Axis Capital Limited BOA Merrill Lynch Citigroup Global Markets India Private Limited CLSA India Private Limited HDFC Bank Limited ICICI Securities Limited
- 10. Continue… IIFL Holdings Limited J.P. Morgan IndiaPrivate Limited JM Financial Consultants Private Limited Kotak Mahindra Capital Company Limited Morgan Stanley India Company Pvt Ltd Nomura Financial Advisory And Securities (India) Pvt Ltd
- 11. BANKER TO ISSUE •HDFC AMC raised Rs 2,800 crore through the IPO which consisted of sale of 25.46 million shares. • Karvy Computershare Private Limited Is the registrar of the issue.
- 12. HDFC AMC LIMITEDIPO - DETAILSOpen Date: Jul 25 2018 Close Date: Jul 27 2018 Total Shares: 25,457,555 Face Value: ₹ 5 Per Equity Share Issue Size: 2800 Cr. Lot Size: 13 Shares Issue Price: ₹ 1095-1100 Per Equity Share Listing At: NSE,BSE Listing Date: Aug 06 2018
- 13. No.of shares offeredNo.of shares offered No. of shares bid No. of total times Qualified Institutional Buyers (QIBs) 4,435,511 852,759,362 192.26 Non Institutional Investors 3,326,634 649,183,951 195.15 Retail Individual Investors (RIIs) 7,762,145 52,227,734 6.73 Employee Reserved 880,000 1,334,411 1.52 Shareholders 2,400,000 6,456,203 2.69 Total 18,804,290 1,561,961,661 83.06 Bid Details of HDFC AMC Limited IPO
- 14. The issue wassubscribed 83.05 times, according to NSE data. Retail investors could apply up for shares up to Rs. 2 lakh. HDFC shareholders had reservation up to 9.43% of the total offer size. Also there was a reservation of up to 1.26% for eligible employees of HDFC AMC and 2.2% of the total offer size for HDFC. IPO FACTS
- 15. HDFC AMC sharesopened 58.09% higher on the BSE at Rs 1,739 apiece. HDFC AMC shares rose to Rs 1,844 at day’s high on NSE, as compared to the issue price of Rs 1,100 Issue price was 2800 cr