HDFC on Thursday informed exchanges that it has approved to offer a part of its shareholding in HDFC Asset Management Company (HDFC AMC), through an offer for sale in an initial public offer.
The board of directors of HDFC AMC chaired by Deepak Parekh today approved initiating the process of an IPO, subject to regulatory approvals.
As of March 2017, HDFC held 59.99 percent stake in HDFC AMC, which reduced…