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Incorporated in 1999, Mumbai based HDFC Asset Management Company (HDFC AMC) Limited is well-known fund house engaged in providing savings and investment products. It is a joint venture between Housing Development Finance Corporation Limited (HDFC) and Standard Life Investments Limited (SLI). SLI is part of Standard Life Aberdeen plc., one of the world's largest investment company.
According to CRISIL, as of December 31, 2017, HDFC AMC has been the most profitable AMC of the country in terms of net profits since Fiscal 2013 with a total AUM (Assets Under Management) of Rs 2,932.54 billion. Its profits has grown every year since 2002.
It has been the largest AMC in equity-oriented AUM since the last quarter of Fiscal 2011 and has consistently been among the top two asset management companies in India in terms of total average AUM since the month of August 2008..
HDFC AMC offers a wide range of savings and investment products across asset classes. As of December 31, 2017, it offered 127 schemes categorized into-
The company also provides portfolio management and segregated account services to HNIs, family offices, trusts, domestic corporates and provident funds etc. As of December 31, 2017, it managed a total AUM of Rs 75.78 billion as part of its portfolio management and segregated account services' business.
Strengths-
1. Brand reputation of HDFC and SLI helps in earning the trust of customers.
2. Consistent investment performance over the years has helped it established itself as one of the leading AMC in the country
3. Diversified product mix with a multi-channel distribution network helps it expand its reach.
4. Strong profitable growth, over the years, provides it with resources to fund future growth.
| Particulars | For the year/period ended (in Rs. Millions) | |||||
|---|---|---|---|---|---|---|
| 31-Dec-17 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | |
| Total Assets | 25,831.58 | 15,995.90 | 14,227.17 | 13,117.50 | 11,213.36 | 8,294.39 |
| Total Revenue | 13,167.21 | 15,879.10 | 14,943.42 | 10,642.76 | 9,031.14 | 7,839.76 |
| Profit After Tax | 4,955.55 | 5,502.46 | 4,778.80 | 4,155.00 | 3,577.70 | 3,187.46 |
The objects of the Offer-
1. To carry out the sale of Equity Shares offered for sale by the Selling Shareholders.
2. Enhance the company's visibility and brand image,
3. Provide a public market for Equity Shares in India.
The Company will not receive any proceeds from the Offer and all the proceeds from the Offer will be received by the Selling Shareholders.
| IPO Date | Jul 25, 2018 to Jul 27, 2018 |
| Listing Date | Monday, August 6, 2018 |
| Face Value | ₹5 per share |
| Price | ₹1095 to ₹1100 per share |
| Lot Size | 13 Shares |
| Issue Size | 25,457,555 shares of ₹5 (aggregating up to ₹2,800.33 Cr) |
| Offer for Sale | 25,457,555 shares of ₹5 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Company Promoters | The Promoters of the Company are HDFC and Standard Life Investments. HDFC holds 120,772,800 Equity Shares and Standard Life Investments, holds 80,515,200 Equity Shares, which constitutes 57.36% and 38.24%, respectively, of the Company's pre-Offer, issued, subscribed and paid-up Equity Share capital. |
HDFC AMC IPO opens on Jul 25, 2018, and closes on Jul 27, 2018. The HDFC AMC IPO bid date is from Jul 25, 2018 10.00 A.M. to Jul 27, 2018 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Tentative Date |
|---|---|
| Opening Date | Jul 25, 2018 |
| Closing Date | Jul 27, 2018 |
| Basis of Allotment | Aug 1, 2018 |
| Initiation of Refunds | Aug 2, 2018 |
| Credit of Shares to Demat | Aug 3, 2018 |
| Listing Date | Aug 6, 2018 |
The HDFC AMC IPO lot size is 13 shares. A retail-individual investor can apply for up to 13 lots (169 shares or ₹185,900).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 13 | ₹14,300 |
| Retail (Max) | 13 | 169 | ₹185,900 |
Click here to read FAQ's about HDFC AMC IPO
| Category | Shares Offered |
| QIB | 44,35,511 |
| NII | 33,26,634 |
| Retail | 77,62,145 |
| Eligible HDFC AMC Employees | 320,000 |
| Eligible HDFC Employees | 560,000 |
| Eligible HDFC Shareholders FAQs | 2,400,000 |
| Total | 1,88,04,290 |
| Financial | HDFC AMC | Reliance AMC | ICICI AMC |
|---|---|---|---|
| Revenue Growth | 19.7% | 23.8% | 36.1% |
| Net Profit Growth | 19.2% | 17.8% | 36.0% |
| AUM Growth | 27.5% | 21.1% | 30.1% |
| Return on Equity | 33.4% | 22.8% | 76.0% |
| Return on Asset | 36.4% | 22.6% | 58.0% |
| Revenue (% of AUM) | 0.59% | 0.40% | 0.59% |
| Net Profit (% of AUM) | 0.24% | 0.13% | 0.20% |
| Total Expense (% of AUM) | 0.27% | 0.27% | 0.31% |
| Key Ratio | HDFC AMC | Reliance AMC |
|---|---|---|
| Price-to-Earning (x) | 32.3 | 27.1 |
| Price-to-Book (x) | 10.8 | 6.2 |
| Market Cap As % Of Total AUM | 7.8 | 3.6 |
MF Industry in India is at 11% of GDP as per last fiscal reports against world average of around 32%. Advance countries have 60% to 100% of their GDPs in MF investment. Post demonatization, this industry got preference as the investment option among larger masses. MF Industry in India is set to grow in double digits for coming 5-8 years and HDFC AMC being most preferred private sector MF is set for bright prospects. Thus although prima facie it is fully priced, group's fancy among investors across the board and outperforming track record of HDFC AMC, makes this issue a worthy bet for medium to long term. Read detail review...
The HDFC AMC IPO is subscribed 82.99 times on Jul 27, 2018 6:44:04 PM. The public issue subscribed 6.57 times in the retail category, 192.26 times in the QIB category, and 195.15 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 192.26 |
| NII | 195.15 |
| Retail | 6.57 |
| Employee | 1.51 |
| Others | 2.65 |
| Total | 82.99 |
| Listing Date | Monday, August 6, 2018 |
| BSE Script Code | 541729 |
| NSE Symbol | HDFCAMC |
| Listing In | |
| ISIN | INE127D01025 |
| IPO Price | ₹1100 per share |
| Face Value | ₹5 per share |
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HDFC Asset Management Company Limited
HDFC House, 2nd Floor, H.T. Parekh Marg
165-166, Backbay Reclamation
Churchgate, Mumbai 400 020, Maharashtra,
Phone: +91 (22) 6631 3333
Email: shareholders.relations@hdfcfund.com
Website: http://www.hdfcfund.com/
KFin Technologies Limited
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://karisma.kfintech.com/
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Lead Manager Reports
HDFC AMC IPO is a main-board IPO of 25,457,555 equity shares of the face value of ₹5 aggregating up to ₹2,800.33 Crores. The issue is priced at ₹1095 to ₹1100 per share. The minimum order quantity is 13 Shares.
The IPO opens on Jul 25, 2018, and closes on Jul 27, 2018.
KFin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The HDFC AMC IPO opens on Jul 25, 2018 and closes on Jul 27, 2018.
HDFC AMC IPO lot size is 13 Shares and the minimum order quantity is .
You can apply in HDFC AMC IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for HDFC AMC IPO will be done on Aug 1, 2018, and the allotted shares will be credited to your demat account by Aug 3, 2018. Check the HDFC AMC IPO allotment status.
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RHP
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