HDFC AMC IPO fully subscribed

The initial public offer (IPO) of HDFC Asset Management Company was fully subscribed on the first day of bidding.

As per NSE data, the issue was subscribed 1.03 times till 5 p.m. on Wednesday with bids received for 1.94 crore shares against the 1.88 crore shares on offer in the price band of Rs. 1,095 to Rs. 1,100.

The mutual fund entity had already allotted 66.53 lakh equity shares to 61 anchor investors, including 35 fund houses, at Rs. 1,100 per equity share aggregating to Rs. 731.86 crore.

The IPO, worth almost Rs. 2,800 crore, would see HDFC selling 85.93 lakh shares that will bring to its kitty about Rs. 950 crore.

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