The Subsidiary of HDFC Limited – HDFC AMC has finally filed a draft red herring prospectus for IPO with the Capital market regulator SEBI (Securities and Exchange Board of India) on March 15.

Housing Development Finance Corporation said, “the public offer is of up to 2.54 lacs equity shares of HDFC AMC (Asset Management Company) which consists of 85,92,970 equity shares by parent company HDFC & 1,68,64,585 equity shares by Standard Life Investment Limited (Promoter).”

It added further that 3.2 lacs shares out of total issue size are reserved for HDFC AMC employees only & up to 5.6 lacs shares are for HDFC employees. Up to 24 lacs shares are reserved for purchase by individuals & Hindu Undivided Family shareholders of HDFC as of March 14.

This would be the 2nd Initial Public Offering from HDFC since 2017. It had launched first IPO – HDFC Standard Life Insurance company in November 2017.