Retail investors bid for 987,191 shares as against 1.2 million on offer; share sale has sailed through as institutional investor portion was oversubscribed
Seen as the best proxy to capture the financialisation theme, analysts feel AMCs including HDFC deserve to trade at a premium
HDFC AMC settled at Rs 1815, up a whopping 65% higher against its issue price of Rs 1,100.
HDFC AMC has been the most profitable asset management company in India in terms of net profit since FY13
Retail focus, high share of more profitable equity funds and low penetration levels will support growth in the long run
The fund house had filed preliminary papers with Sebi in March, seeking approval to float an initial public offering
HDFC AMC had about $42 billion in average assets under management for the quarter ended September
The company had given the nod for initiating its IPO process in November last year