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HDFC to list mutual fund business before insurance

HDFC plans to list its mutual fund business before its life insurance company i.e. HDFC Standard Life. HDFC plans to bring out IPOs of HDFC Mutual Fund in the third quarter of 2009-10.

Apnainsurance.com Research Bureau

22 Jun 2008

Country's largest housing finance company, HDFC plans to list its mutual fund business before the life insurance company i.e. HDFC Standard Life. HDFC also plans to bring out the IPO of HDFC Mutual Fund in the third quarter of 2009-10.

According to Merrill Lynch Report, the company is planning to finance its stake purchase (warrant conversion) in HDFC Bank by listing its life insurance subsidiary by October-December 2009.

HDFC Asset Management Company Ltd is a joint venture between HDFC Ltd and Standard Life Investments Ltd HDFC holds 60 per cent stake in the company and the remaining is with Standard Life Investment.



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