HDFC Asset Management Company Limited (HDFC AMC) Investment Manager to HDFC Mutual Fund is one of the leading asset management companies in the country. HDFC AMC has a diversified asset class mix across Equity and Fixed Income/Others. It has a countrywide network of branches along with a diversified distribution network comprising Banks Independent Financial Advisors and National Distributors. As on 30 June 2018 the company had more than 65000 empanelled distribution partners serviced through a total of 210 branches.HDFC Asset Management has been the most profitable asset management company in India in terms of net profits since Fiscal 2013 according to CRISIL. The Company had a total AUM of Rs. 3011 billion as of 30 June 2018. It has been the largest asset management company in India in terms of 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 according to CRISIL.The Company operates as a joint venture between Housing Development Finance Corporation Limited ('HDFC') and Standard Life Investments Limited ('SLI'). HDFC is one of India's leading housing finance companies. HDFC group has emerged as a recognized financial conglomerate in India with presence in housing finance banking life and non life insurance asset management real estate funds and education finance. Listed companies of the HDFC group include HDFC Limited HDFC Bank Limited HDFC Standard Life Insurance Company Limited and GRUH Finance Limited which had market capitalizations of US$46.87 billion (Rs. 3209.38 billion) US$80.19 billion (Rs. 5490.74 billion) US$13.41 billion (Rs. 918.01 billion) and US$3.25 billion (Rs. 222.47 billion) respectively as of June 30 2018. SLI is an indirect subsidiary of Standard Life Aberdeen pic ('Standard Life Aberdeen') one of the world's largest investment companies created in 2017 from the merger of Standard Life plc and Aberdeen Asset Management PLC. SLI operates within the brand Aberdeen Standard Investments; with its investment arm managing 575.7 billion (Rs. 49666.50 billion) of assets as of December 31 2017 making it one of the largest active managers in Europe. Standard Life Aberdeen is listed on the London Stock Exchange and had a total market capitalization of 9.70 billion (Rs. 876.72 billion) as of June 30 2018. The company offers a large suite of savings and investment products across asset classes which provide income and wealth creation opportunities to customers. As of March 31 2018 the company offered 133 schemes that were classified into 27 equity-oriented schemes 98 debt schemes (including 72 fixed maturity plans ('FMPs')) three liquid schemes and five other schemes (including exchange-traded schemes and funds of fund schemes). This diversified product mix provides them with the flexibility to operate successfully across various market cycles cater to a wide range of customers from individuals to institutions address market fluctuations reduce concentration risk in a particular asset class and work with diverse sets of distribution partners which helps to expand its reach. The Company also provides portfolio management and segregated account services including discretionary non-discretionary and advisory services to high net worth individuals ('HNIs') family offices domestic corporates trusts provident funds and domestic and global institutions.HDFC Asset Management Company Limited was incorporated as a public limited company on December 10 1999 and obtained its certificate for commencement of business on March 9 2000 from the RoC. It was approved to act as an Asset Management Company for HDFC Mutual Fund by SEBI on 3 July 2000. In September 2000 the company's Assets under Management (AUM) reached Rs 6.5 billion. In August 2001 Standard Life Investments became a shareholder of the company. In September 2002 the company's AUM crossed Rs 100 billion.In June 2003 HDFC Asset Management Company acquired Zurich Asset Management Company Limited (ZAMC) having an AUM of Rs 34 billion. In January 2009 the company's AUM crossed Rs 500 billion. In October 2009 the company's AUM crossed Rs 1 trillion. In March 2011 HDFC Debt Fund for Cancer Cure was launched. In March 2014 the company launched its second CSR oriented fund viz. HDFC Debt Fund for Cancer Cure 2014. In June 2014 the company acquired Morgan Stanley Mutual Fund schemes having an AUM of Rs 19 billion. In September 2014 the company's AUM crossed Rs 1.5 trillion. In May 2016 the company's AUM crossed Rs 2 trillion. In April 2017 the company's Equity AUM crossed Rs 1 trillion. In December 2017 the company's AUM crossed Rs 3 trillion.During the financial year the shareholders of the Company at their meeting held on January 16 2014 approved the buy-back of equity shares of the Company from the shareholders of the Company through tender offer. The buy-back offer was completed within the time limits as prescribed under the Companies Act 1956 and 141500 equity shares of the Company were bought by the Company under the buy-back offer. The present paid-up capital post the buy-back offer is Rs. 252408000/-.HDFC Asset Management Company' promoters viz. HDFC and Standard Life Investments Limited offloaded a total of 2.54 crore shares through an initial public offer (IPO) of during the period from 25 July 2018 to 27 July 2018. There was no fresh issue of shares by the company. HDFC offloaded 85.92 lakh shares and Standard Life Investments Limited offloaded 1.68 crore equity shares through the IPO. The IPO was priced at Rs 1100 per share. The company's shares were listed on the bourses on 6 August 2018.