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HDFC Asset Management Company, one of the largest mutual fund companies, set the price of the final bid at 1100 rupees per share on Saturday
Housing Development Finance Corporation advised that The company, HDFC Asset Management and Standard Life Consulting with the main book managers finalized the offer price at Rs 1,100 per share for the IPO.
As a result, the company raised 2,800.35 rupees through the IPO, or 2.54,555,555 shares. The public broadcast of HDFC Asset Management Company on Friday received an overwhelming response from institutional investors and received bids for 156.19 shares of crore capital for shares of 1.88 crore (excluding anchor shares) .
The offer is oversubscribed by 83.06 times according to the data available on the NSE.
The reserved portion of qualified institutional investors was oversubscribed by 192.26 times, non-institutional investors 195.15 times and was 6.73 times oversubscribed.
The question received offers worth Rs 1.72 lakh crore against the size of the IPO of Rs 2,800 crore. The price range for the issue was set at Rs 1,095-1,100 per share [19659002] HDFC Asset Management Company has already raised Tuesday 732 crores Rs by 6,653,265 shares to anchor investors.
The issue included an offer to sell up to 85.92,970 shares of Housing Development Finance Corporation and up to 1.68,64,585 Standard Life Investments equity shares.
HDFC AMC is the joint venture between Housing Development Finance Corporation and Standard Life Investments.
Kotak Mahindra Axis Capital Capital, DSP Merrill Lynch, Citigroup Global Markets India, CLSA India, HDFC Bank, ICICI Securities, IIFL Holdings, JM Financial, JP Morgan India, Morgan Stanley India and Nomura Financial Advisory were leaders in this domain.
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