HDFC AMC IPO oversubscribed 82.71 times

The mutual fund behemoth IPO is on the way to become the most successful Initial Public Offering of 2018. At 16:00 hours on Friday, with only one hours remaining for the lose of the offer, it was subscribed 82.71 times.

The price band of the IPO is Rs. 1,095 to Rs. 1,100 per share of face value Rs. 5. The bid lot size for the issue is 13 equity shares. The IPO close at 5:00 pm on Friday.

HDFC AMC is the country's second largest mutual fund house. The company is a joint venture between HDFC Limited and Standard Life Investments.

At 16:00 hours, the issue was subscribed 0.61 times. The cumulative bid received for the IPO were 1,55,53,50,017, of which a total of 4,59,03,273 bids were received at cut-off price. At this rate of subscription, it is very likely that the issue might be oversubscribed 100 times.