HDFC Asset Management Company (AMC), has received Sebi’s approval to float an initial public offering (IPO).

According to the latest update with Sebi, the company had filed draft papers with Sebi in March and received its observations on June 22. HDFC AMC operates as a joint venture between Housing Development Finance Corporation (HDFC) and Standard Life Investments.

Further the draft papers stated that, the proposed IPO offers up to 2.54 crore equity shares of the fund house, through an offer for sale of 85.92 lakh shares by HDFC and up to 1.68 crore shares by Standard Life.

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