What a fantastic debut by HDCF AMC! It's like Hrithik Roshan becoming an overnight sensation after his debut!
Well, after getting subscribed 83 times, this kind of a listing was expected. The stock got listed on the BSE at Rs.1818 and Rs.1815 on the NSE compared to the IPO price of Rs.1100.
The giant portion of the issue was subscribed by non-institutional or HNIs who subscribed 195 times, followed by institutional buyers at 192 times. Retail investor segment was subscribed 6.61 times.
In our New Issue Analysis section, we had said, " A proxy to financialisation of savings in India, HDFC AMC is the preferred choice to ride India’s fast growing per capita income (and hence savings) story. IPO is very attractively priced and we advise all investors to go for it – even if one has a short term view (listing gains) or long term horizon (portfolio building). Simply put, HDFC AMC is a must buy for all."