HDFC AMC makes stellar debut, stock settles 65% above the issue price

HDFC AMC settled at Rs 1815, up a whopping 65% higher against its issue price of Rs 1,100.

Shares of HDFC Asset Management Company (AMC) made a stellar debut on the bourses on Monday, settling at Rs 1815 per share, up a whopping 65% higher against their issue price of Rs 1,100 per share.

HDFC AMC, the HDFC group company got listed at Rs 1,739, up 58% against its issue price on the BSE. On the NSE, the stock opened  57% higher at Rs 1,726. It touched high of Rs 1,843 on the BSE, and Rs 1,844 on the NSE.

The Rs 28 billion initial public offering (IPO) of HDFC AMC got a strong response from all categories of