? Cool Title, but what’s the news?
HDFC Asset Management Company Ltd. listed at a premium of 65 percent at Rs 1,815 per share on the National Stock Exchange Ltd., compared to its issue price of Rs 1,100.
The stock made its trading debut at Rs 1,818 on the BSE Ltd.
? Okay, but what does it mean?
The Rs 2,800-crore initial public offering by the country’s second-largest asset manager was subscribed 83 times on the last day of the bidding led by demand from non-institutional investors.
The non-institutional investors’ category received over 195 times more demand than the shares on offer.
? Why should I care?
Because, this premium is nothing compared to the fact that had you started an SIP with any of these funds. A small investor, investing just Rs 10,000/month can easily beat these returns in the long run by just being disciplined with their money.
If you’re new to SIPs, or want to understand how they work, you can visit this comprehensive guide that we’ve designed to get you started!
Source: Bloomberg Quint