HDFC AMC IPO – Review, Allotment, Subscription, GMP Price, Date & more

HDFC AMC IPO or HDFC Asset Management Company IPO is the latest IPO drafted under SEBI. The IPO issue size is Rs. 2,800.33 Crores with Equity shares offering of 25,457,555 crores approx & the price band is Rs 1095 – Rs 1100 per share.

In this article, we will have a detailed HDFC AMC IPO Review along with in-depth analysis of this IPO’s Object, Offerings, Companies Financials, Companies reputation, Allotment Status, Grey Market pricing, Release Date, Price & more.


HDFC AMC IPO Review & Ratings 

  • Good for Short Term & Long Term Investment
HDFC AMC IPO Ratings & Review
CriteriaRatings
Industry Sentiments9.0/10
Industry Ranking9.3/10
Company Background9.5/10
Company Reputation9.0/10
Competitive Edge9.5/10
Financial Statement9.0/10
Popularity Index9.3/10
Promoters Reputation9.5/10
Retail Appetite9.6/10
Top Brokers Review9.5/10
Overall Ratings9.3/10
Star Ratings★★★★★

Summary – HDFC AMC IPO

Lets have a short summary of HDFC AMC IPO. HDFC Asset Management IPO is commonly known as HDFC Mutual Fund IPO. It is one of most famous IPO of 2018 drafted with SEBI. This IPO has been on March 16th 2018.

hdfc amc ipoHDFC AMC has hired multiple companies as its Book Running Lead Managers like Kotak Mahindra Capital, Axis Capital, DSP Merill Lynch Limited, CITIGroup Global Markets, CLSA India, HDFC Bank Limited, ICICI Securities Limited, IIFL Holdings Limited, JM Financial Limited, JP Morgan India, Morgan Stanley India, Nomura Financial Advisory.

Other than this, they have hired Karvy Computershare Private Limited as their Registrar of the offer.

HDFC AMC is a joint venture between HDFC & Standard Life Investments Limited (SLI). The Company is delivering Asset Management Services like Mutual Funds Investment, Portfolio Management & Segregated Account Services for HNI’s.

The Company has a massive client base of 7.61 million Live accounts. They offer 127 Mutual Fund Schemes. HDFC AMC has a total AUM of INR 2932.54 billion in Dec, 2017. The AMC is one of the largest mutual fund investment providers in the country.


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    HDFC AMC IPO Date

    IPO issue Date is – July 25, 2018 – July 27, 2018

    HDFC AMC IPO Subscription

     Subscription
    Day 1 – July 25, 20181.03X (19396884 shares)
    Day 2 – July 26, 20185.52X (103877982 shares)
    Day 3 – July 27, 201882.99X (1560636688 shares)
    Day 4
    Day 5

    HDFC AMC IPO Allotment Status

    Here, you can find the Allotment Status of this IPO. Please check the IPO allotment status post issue of IPO.

    OR

    Click this BSE link to check ALLOTMENT if the above link is too busy or not functioning now.

    HDFC AMC IPO Price Band

    The Face value is Rs 5 only and the price band of the IPO will be in the range of Rs 1095 – Rs 1100.

    HDFC AMC IPO Issue Size

    The IPO Issue size is expected to be close to INR 2,800.33 Crores.

    HDFC AMC IPO Equity Share Offerings

    The equity shares under offering is 25,457,555 Equity Shares of Rs 5 aggregating up to Rs 2,800.33 Cr with a minimum order quantity of 13 shares. The share are listed on BSE and NSE.



    HDFC Asset Management Company – Company Overview

    HDFC AMC is one of the largest mutual fund house in the country. The Company is headquartered in Mumbai. The Financial company was approved to work as an Asset Management Company of the HDFC Mutual Fund by SEBI in June 2000. Some of the key members of the company are –

    • Piyush Surana (CFO)
    • V. Suresh Babu (Head of Operations)
    • Anil Kumar Hirjee (Chairman)

    Let’s understand about companies key strategies –

    • Maintain strong investment performance
    • Expand our reach and distribution channels
    • Enhance product portfolio
    • Invest in digital platforms to establish leadership in the growing digital

    Companies Competitive Edge –

    • Consistent market leadership position in the Indian mutual fund industry.
    • Trusted brand and strong parentage
    • Strong investment performance supported by comprehensive investment philosophy and risk management
    • Superior and diversified product mix distributed through a multi-channel distribution network
    • Focus on individual customers and customer centric approach
    • Consistent profitable growth
    • Experienced and stable management and investment teams

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    HDFC Asset Management Company – Financial Statement

    Let’s check some of the important metric to analyse their financial power-

    Assets of the Company

    Assets (in Millions)
     Mar’17Mar’16Mar’15Mar’14Mar’13
    Non-Current Assets          2,808          3,034        3,841        2,910        1,405
    Current Assets       13,188       11,193        9,277        8,303        6,890
    Total Assets       15,996       14,227      13,118      11,213        8,294

    Revenue & PAT of the Company

    Revenue & Profits (in Millions)
     Mar’17Mar’16Mar’15Mar’14Mar’13
    Total Revenue       15,879       14,943      10,643        9,031        7,840
    Profit After Tax (PAT)          5,502          4,779        4,155        3,578        3,187

    Earnings per Equity Share

    Earnings per Equity Share (Face Value Rs.5 per Share)
    Basic          27.33          23.64        20.58        17.71        15.80
    Diluted          27.05          23.56        20.31        17.60        15.75

    The Companies growth in terms of Revenue & PAT has been significant. There is a 2x growth in companies revenue in last 5 years & close to 1.7x growth in PAT.


     

    HDFC AMC Promoters

    Two large conglomerate are the promoters of HDFC Asset management company.

    • HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 
    • STANDARD LIFE INVESTMENTS LIMITED

    1st is HDFC & 2nd Standard Life Investments. Both the promoters are extremely big in terms of Brand & Financials & are known to be one of the large firms in their respective country. As on 16th march 2018, HDFC holds 120,772,800 shares & SLI holds 80,515,200 shares i.e. 57.36% & 38.24% respectively of HDFC AMC.

    Promoters Holdings:

    Promoters
     Pre-issued EquityPercentage
    HDFC Ltd.120,772,80057.36%
    Standard Life Investments80,515,20038.24%

     

    HDFC AMC IPO Offer Details or IPO issue Details

    Check the Table below for detailed understanding of the HDFC AMC IPO Offer:

    Offer Up to 25,457,555 Equity Shares
    of which
    Reservation Portions 
    HDFC AMC Employee Reservation PortionUp to 320,000 Equity Shares
    HDFC Employee Reservation PortionUp to 560,000 Equity Shares
    HDFC Shareholders Reservation PortionUp to 2,400,000 Equity Shares
    Net OfferUp to 22,177,555 Equity Shares
    Accordingly,
    A. QIB PortionUp to 11,088,776 Equity Shares
    of which
    Anchor Investor PortionUp to 6,653,265 Equity Shares
    Balance available for allocation to QIBs other than Anchor Investors (assuming Anchor Investor Portion is fully subscribed)Up to 4,435,511 Equity Shares
    of which
    Available for allocation to Mutual Funds only is 5% of the QIB Portion (excluding the Anchor Investor Portion)Up to 221,776 Equity Shares
    Balance of the QIB portion for all QIBs including Mutual FundsUp to 4,213,735 Equity Shares
    B. Non-Institutional PortionNot less than 3,326,634 Equity Shares
    C. Retail PortionNot less than 7,762,145 Equity Shares

    The Retail portion of this IPO will be offered & allotted to the individual investors.


    HDFC AMC IPO Issue Objects

    Following are the Objects of the HDFC AMC IPO issue:

    • Achieve the benefits of listing the Equity Shares in the Stock Exchages
    • Listing of Shares in the Stock Exchange will enhance the visibility & Brand image of the Company

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    HDFC Asset Management Company IPO – Basis of Offer Price

    The offer price of the IPO is determined by the Company & Selling Shareholders in consultation with BRLMs on the basis of market demand of the equity offered. The Qualitative & Quantitative factors involved while determining the IPO offer price are:

    Qualitative Factors

    Some of the qualitative factors which form the basis for computing the Offer Price are:

    • Consistent market leadership position in the Indian mutual fund industry;
    • Trusted brand and strong parentage;
    • Strong investment performance supported by comprehensive investment philosophy and risk management;
    • Superior and diversified product mix distributed through a multi-channel distribution network;
    • Focus on individual customers and customer centric approach;
    • Consistent profitable growth; and
    • Experienced and stable management and investment teams.

    Quantitative Factors:

    • Basic and diluted earnings per share (“EPS”) 

    Basic and diluted earnings per share

    • Price/Earning (“P/E”) ratio in relation to Price Band
    • Average Return on Net Worth (RoNW)

    RoNW

    • Net asset value per Equity Share (face value of Rs.5 each) – Mar, 2017 value was Rs.70.68

    hdfc nav

    • Comparison with listed industry peers

    HDFC pEER


    Other Important Details:

    Important dates:

    • Finalization of Basis of Allotment: Around Aug 1, 2018
    • Initiation of refunds: Around Aug 2, 2018
    • Credit of Shares to Demat accounts: Around Aug 3, 2018
    • Commencement of trading on the Stock Exchanges: Around Aug 6, 2018

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    HDFC AMC IPO – Lead Managers

    Lead Managers
    Kotak Mahindra Capital Company Limited
    Axis Capital Limited
    DSP Merill Lynch Limited
    CitiGroup Global Markets India Private Limited
    CLSA India Private Limited
    HDFC Bank Limited
    ICICI Securities Limited
    IIFL Holdings Limited
    JM Financial Limited
    JP Morgan India Private Limited
    Morgan Stanly India Company Private Limited
    Namura Financial Advisory & Securities (India) Private Limited

    HDFC Mutual Fund IPO Registrar of the Offer

    Registrar of the Offer
    Karvy Computershare Private Limited

    HDFC AMC IPO Grey Market Premium

    Grey Market Premium is Rs 460-470 and the Kostak Rate is Rs 1800 and Subject to Sauda at Rs 5300.


    HDFC AMC IPO Review by Top Stock Brokers

    Here is the tabular representation of IPO review by top equity research firms on 5 major parameters.

    Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
    Angel Broking9.0/109.5/109.0/109.3/109.5/10
    Sharekhan9.1/109.6/108.8/109.5/109.7/10
    Kotak Securities9.3/109.5/108.9/109.5/109.6/10
    ICICI Direct9.2/109.3/109.2/109.4/109.4/10
    IIFL9.6/109.5/109.2/109.0/109.5/10
    Edelweiss9.5/109.5/109.1/109.3/109.6/10
    Zerodha9.2/109.4/109.0/109.1/109.5/10
    5Paisa9.3/109.6/108.8/109.5/109.3/10
    Karvy9.1/109.3/108.7/109.6/109.5/10
    Motilal Oswal9.4/109.5/108.9/109.3/109.4/10

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      IPO News

      News 1 – HDFC AMC files draft papers for IPO with Sebi

      News 2 – Download Prospectus


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