HDFC AMC makes strong debut, lists at 58% premium
06/08/2018 10:17
HDFC Asset Management Company (HDFC AMC) makes a stellar debut on the bourses with scrip got listed at Rs 1,739 on the Bombay Stock Exchange, a 58.09 per cent premium to its issue price of Rs 1,100.00.

In a similar trend, the stock was listed at Rs 1,726.25 on the National Stock Exchange.

The company, listed and admitted to dealings on the Exchange in the list of 'B' Group Securities, opened for subscription from July 25 to July 27.

Following a strong opening, the scrip touched an intraday high of Rs 1832.00 and a low of Rs 1730.00, on the BSE.

HDFC AMC operates is a joint venture between Housing Development Finance Corporation (HDFC) 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 managing the issue.

Meanwhile, the broader benchmark BSE Sensex was trading at 37,697.25, up 141.09 points, or 0.38 per cent, from previous close on the BSE at 10:25 hours.