HDFC Ltd said that it will sell around 4% stake in its asset management arm HDFC AMC through IPO. HDFC board has approved to offer ~85.92 lac equity shares of INR 5 each of HDFC AMC which is representing 4.08% of a paid-up share capital for sale in IPO.

HDFC AMC had earned INR 1588 Cr. last fiscal ended in March 2017 while the net profit was INR 550 Cr. Housing Development Finance Corporation Ltd. (HDFC Ltd.) held 59.99% shares in its asset management arm in March 2017.

In short, investors will have a good chance to buy HDFC stocks soon because AMC will continue to be its subsidiary post-IPO said by HDFC.