HDFC Asset Management Company made its stock market debut on Monday, listing at Rs 1,738.35 per share on exchanges vs issue price of` Rs 1,100 per share.

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The stock was listed at a 60 percent premium.

HDFC AMC's Rs 2,800-crore initial public offer was open during July 25-27.

Country's 2nd largest mutual fund firm, HDFC AMC makes its D-Street debut; Price band for IPO was Rs 1,095-1,100/sh https://t.co/U1azONz24y

— CNBC-TV18 (@CNBCTV18Live) August 6, 2018

HDFC AMC operates as a joint venture between Housing Development Finance Corporation (HDFC) and Standard Life Investments.

HDFC AMC has total assets under management of over Rs 3 lakh crore as of March-end.

It is the second asset management company to hit the market after Reliance Nippon Life AMC, which had raised Rs 1,542 crore last year.

Kotak Mahindra Capital Company, Axis Capital, DSP Merrill Lynch, Citigroup Global Markets India, CLSA India, HDFC Bank, ICICI Securities, IIFL Holdings, JM Financial, JP Morgan India, Morgan Stanley India and Nomura Financial Advisory managed the company's IPO.

(With PTI Inputs)

First Published:Aug 6, 2018 8:04 AM IST