SEBI Registration No - INA000003197 Investment in stock and commodity market are subject to market risk. Please do not trade on those tips which are not provided through SMS.

Blog

HDFC-MF-image-final-770x433

HDFC AMC stock trades flat after stellar debut on Monday

Shares of HDFC Asset Management Company Ltd, the second largest AMC in India, is currently trading down 0.09% at Rs1,813.55 from its previous closing of Rs1,815.15 on the BSE.

The scrip opened at Rs1,823 and has touched a high and low of Rs1,833 and Rs1,801.10 respectively.

On Monday, shares of HDFC Asset Management Company settled at Rs1,815.15 on BSE, a premium of 65% over the initial public offer (IPO) price of Rs1,100.

The company made a stellar debut on the stock exchanges, listing at Rs1,735/share, a premium of 57.7% over the issue price of Rs1,100 on BSE.

HDFC AMC is a joint venture between Housing Development Finance Corporation (HDFC) and Standard Life Investments. HDFC AMC is the second-biggest mutual fund manager in the country with Rs3.07lakh crore worth of assets under management in the June quarter.

HDFC AMC’s Rs2,800cr IPO was open from July 25 -27, 2018 and the price band for the offer was fixed at Rs1,095-1,100/share.

HDFC’s AMC arm had offered 2.54cr shares and the issue had generated huge interest among investors, with the lot being subscribed 83x.

The AMC’s equity-oriented AUM to total AUM at 51.3% is much higher than the industry average of 43.2%. The AMC has 209 branches and a network of over 65,000 distributors.

Best services for customers with full technical support make your Financial Trading more easy click here to subscribe us for free >> Bonaz Capital