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Offer for Sale of Shares by Promoters of HDFC Asset Management Company Ltd

Posted On: 2019-12-03 21:38:12

Standard Life Investments Limited ("the Seller") is one of the promoters of the HDFC Asset Management Company Ltd ("the Company") proposes to sell up to 4,750,000 Equity Shares (representing 2.23% of the total issued and paid-up Equity Share capital of the Company) ("Base Offer Size") on December 4, 2019 ("T Day") (for non-retail investors only) and on December 5, 2019 ("T+1 Day") (for retail investors and for non-retail investors who choose to carry forward their un-allotted bids), with an option to additionally sell up to 3,850,000 Equity Shares (representing 1.81% of the total issued and paid-up Equity Share capital of the Company) (the "Oversubscription Option" and in the event the Oversubscription Option is exercised, the Equity Shares forming part of the Base Offer Size and the Oversubscription Option will, collectively, hereinafter be referred to as the "Sale Shares", but in the event the Oversubscription Option is not exercised, the Equity Shares forming part of the Base Offer Size will hereinafter be referred to as the "Sale Shares"), through a separate, designated window of BSE Limited ("BSE") and National Stock Exchange of ("NSE" and together with BSE, the "Stock Exchanges").

Date and time of the opening and closing of the offer :

For Non-Retail Investors on T Day, i.e. December 04, 2019

The Sale shall take place on a separate window of the Stock Exchanges on T Day, commencing at 9:15 a.m. and shall close at 3:30 p.m. (Indian Standard Time) on the same date. Non-Retail Investors who have placed their bids on T Day may indicate their willingness to carry forward their un-allotted bids to T+1 Day (defined below).

Please note that only Non-Retail Investors shall be allowed to place their bids on T Day, i.e. December 04, 2019.

For Retail Investors (defined below) and for Non-Retail Investors who choose to carry forward their un-allotted bids on T+1 Day, i.e. December 05, 2019.

The Sale shall continue to take place on a separate window of the Stock Exchanges on T+1 Day, commencing at 9:15 am. and shall close at 3:30 p.m. (Indian Standard Time) on the same date.

Please note that only Retail Investors shall be allowed to place their bids only on T+1 Day. Further, those Non-Retail Investors who have placed their bids on T Day and have chosen to carry forward their un-allotted bids to T+1 Day, shall be allowed to revise their bids on T+1 Day as per the SEBI OFS Circulars.

(T Day and T+1 Day, collectively referred to as, "Sale Dates")

Floor Price: The floor price for the Sale shall be Rs. 3,170 (Rupees Three Thousand One Hundred Seventy) per Equity Share ("Floor Price").

Shares of HDFC Asset Management Company Ltd was last trading in BSE at Rs.3441.45 as compared to the previous close of Rs. 3395.9. The total number of shares traded during the day was 60751 in over 7251 trades.

The stock hit an intraday high of Rs. 3486.75 and intraday low of 3376.3. The net turnover during the day was Rs. 208160590.


Source: Equity Bulls

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