HDFC MF gets Sebi go-ahead for IPO after nearly two months on backburner

It will be entirely an offer for sale by promoter HDFC and UK's Standard Life, who currently hold 57% and 38% respectively

HDFC Mutual Fund has obtained a go-ahead to launch its initial public offering (IPO), two investment bankers handling the issue said. 

“Sebi has issued final observation on the offer document. The company will have to respond to the market regulator,” said an investment banker, adding that the asset manager is looking to launch its IPO in the second or third week of July. 

HDFC MF couldn’t be immediately reached for a confirmation. 

The processing status of draft offer documents filed with Sebi, uploaded on June 22, featured names of 26 companies that are awaiting approval. The list didn't