HDFC AMC seals $408m IPO as CreditAccess sets terms

By John Loh, Jonathan Breen
02 Aug 2018

HDFC Asset Management Co has raked in Rp28bn ($407.9m) from its IPO after a big show of demand from institutional and non-institutional investors.

A total of 25.5m shares, all secondary, were up for grabs at Rp1,095-Rp1,100. The float, which represents 12.01% of the issuer’s equity capital, had a narrow size range of between Rp27.9bn and Rp28bn. Following a huge turnout, the stock was priced at the top of the range.

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